Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. acct 1121 financial accounting i tutorial question

ACCT 1121 FINANCIAL ACCOUNTING I TUTORIAL QUESTIONS - EQUITY 1. Journalising issuance of shares Myra...

50.1K

Verified Solution

Question

Accounting

image
ACCT 1121 FINANCIAL ACCOUNTING I TUTORIAL QUESTIONS - EQUITY 1. Journalising issuance of shares Myra Corporation Berhad has authorized ordinary share 150,000 had the following transactions June July 1 1 Issued 6,000 shares for cash at RM 43 per shares Issued 3,000 shares for cash RM45 per shares Required: a) Journalize the transactions b) Prepare the equity section 2. Journalizing issuance of shares Mura Berhad has the following information Mura Berhad Statement of Financial Position as at 31 December 2017 RM 2,250,000 Paid in Capital: Preferred shares 100,000 shares authorized 45,000 shares issued and outstanding Ordinary shares 150,000 shares authorized 78,000 shares issued and outstanding Total paid in capital 3.120.000 53,370,000 Retained Earnings Total Shareholders' Equity 101.000.000 547.100.000 June July 1 1 Issued 6,000 shares for cash at RM 63 per shares Issued 3,000 shares for cash RM45 per shares Issued 5,000 preferred shares for cash RM50 per share Required: a) Journalize the transactions b) Prepare the equity

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How to size an I section under shear bending? Stress calculation should be done at which...

Civil Engineering
Q

A toy cannon uses a spring to project a 5 40 g soft rubber ball...

Physics
Q

List the sides in order from shortest to longest The diagram is not to scale...

Geometry
Q

Find the surface area of the regular pyramid shown to the nearest whole number The...

Geometry
Q

O avoiding the tax O non payment of the tax O under payment of the...

Basic Math
Q

1 A central angle is an angle whose vertex is at the center of a...

Basic Math
Q

1 point The table below lists the height h in cm the age a in...

Algebra
Q

VSB 3006 _______________________________ X2 Extra Credit Print Name (Last, First) Budgeting The following...

Accounting
Q

Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an...

Accounting
Q

Holling Incorporated uses the weighted-average method in its process costing. The following data concern the...

Accounting
Q

Harris Company had checks outstanding totaling $5,364 on its May bank reconciliation. In June, Harris...

Accounting
Q

QS 6-5 Perpetual: Inventory costing with LIFO LO P1 A company reports the following beginning...

Accounting