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3 Capital Stock- Share Activity Capital Stock Share Activity PS & CS Common Stoc

ID: 2595421 • Letter: 3

Question

3 Capital Stock- Share Activity Capital Stock Share Activity PS & CS Common Stock Number of Capital Stocik Legal Value Poid-in-Capitol Number of Price Paid Capital Stock Par Value Preferred Shares Common Shares Treasury Shares Per Share Total Capital Stock Date 6/12/2017 7/11/2017 11/28/2017 2/1/2018 7/1/2018 Issued new shares-cS Issued new shares-PS Purchase Treasury Shares-cs Issued new shares-PS Issued new shares-CS $1 1,000,000 5.00 110.00 10.00 $100 $ 2,000$ 15,000 $100 $ 125.00 4,000 $1 6,000 10.00 Total Shares and Values 25,000- 1,000,000- -2,000 Date Account- DR Account CR Debit Credit A 6/12/2017 7/11/2017 11/28/2017 2/1/2018

Explanation / Answer

Date

Particulars

L.F

Dr. amount

Cr. amount

6/12/2017

bank a/c Dr

   To share capital -CS

    To share premium

(Being share issued at premium)

5000000

1000000

4000000

7/11/2017

bank a/c Dr

   To preferred share capital-ps

    To share premium

(Being share issued at premium)

1650000

1500000

150000

11/28/2017

share capital A/C

loss on buy back

   To sharehplders

(Being share buy back)

2000

18000

20000

11/28/2017

shareholder A/C

    To bank

(Being amount paid)

20000

20000

11/28/2017

share premium a/c

   to loss on buy back

(Being loss on buy back written off)

18000

18000

2/1/2018

bank a/c

    to preferred share capital-PS

    to share premium a/c

(Being preferred share issued at premium)

500000

400000

100000

7/1/2018

Bank a/c

    to preferred share capital-CS

    to share premium a/c

(Being share issued at premium)

60000

6000

54000

Date

Particulars

L.F

Dr. amount

Cr. amount

6/12/2017

bank a/c Dr

   To share capital -CS

    To share premium

(Being share issued at premium)

5000000

1000000

4000000

7/11/2017

bank a/c Dr

   To preferred share capital-ps

    To share premium

(Being share issued at premium)

1650000

1500000

150000

11/28/2017

share capital A/C

loss on buy back

   To sharehplders

(Being share buy back)

2000

18000

20000

11/28/2017

shareholder A/C

    To bank

(Being amount paid)

20000

20000

11/28/2017

share premium a/c

   to loss on buy back

(Being loss on buy back written off)

18000

18000

2/1/2018

bank a/c

    to preferred share capital-PS

    to share premium a/c

(Being preferred share issued at premium)

500000

400000

100000

7/1/2018

Bank a/c

    to preferred share capital-CS

    to share premium a/c

(Being share issued at premium)

60000

6000

54000