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 2/1/2018Explanation / 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
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