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  • Assignment 3.1 Additional Equity Transactions

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    JOHN RUSSEL ANTIVO
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    The document shows accounting entries made between May 1 and July 30 related to share capital. On May 1, cash of Rs. 1,500,000 was debited for share subscriptions, and preference share capital of Rs. 3,000,000 and ordinary share capital of Rs. 3,000,000 were credited. Further entries were made in June and July for additional share subscriptions and allotments, with debits to cash and credits to share capital and capital subscription accounts.

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    Assignment 3.1 Additional Equity transactions

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    The document shows accounting entries made between May 1 and July 30 related to share capital. On May 1, cash of Rs. 1,500,000 was debited for share subscriptions, and preference share capital of Rs. 3,000,000 and ordinary share capital of Rs. 3,000,000 were credited. Further entries were made in June and July for additional share subscriptions and allotments, with debits to cash and credits to share capital and capital subscription accounts.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    7 views4 pages

    Assignment 3.1 Additional Equity Transactions

    Uploaded by

    JOHN RUSSEL ANTIVO
    The document shows accounting entries made between May 1 and July 30 related to share capital. On May 1, cash of Rs. 1,500,000 was debited for share subscriptions, and preference share capital of Rs. 3,000,000 and ordinary share capital of Rs. 3,000,000 were credited. Further entries were made in June and July for additional share subscriptions and allotments, with debits to cash and credits to share capital and capital subscription accounts.

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    of 4

    Date Account Title Debit Credit

    May, 1 Cash 1,500,000 (25%*(30000*100+60000*50)

    Subscription Receivable –

    Share Capital Preference 2,250,000 0.75*(30000*100)

    Subscription Receivable –

    Share Capital Ordinary 2,250,000 (0.75*60000*50)

    Subscribed-Share Capital

    Preference 3,000,000 (30000*10)

    Subscribed-Share Capital

    Ordinary 3,000,000 (60000*50)

    June, 15 Cash 137,500 (25%*5000*110)

    Subscription Reveal – Share

    Capital Preference 412,500 (75%*5000*110)

    Subscribed – Share Capital

    Preference 550,000 (5000*110)

    June, 17 Cash 390,000 (25%*30000*52)

    Subscription Receivable- Share


    Capital Ordinary 1,170,000 (75%*30000*52)

    Subscribed-Share Capital

    Ordinary 1,560,000 (30000*52)

    June, 30 Cash 2,250,000

    Subscription Receivable- Share

    Capital Preference 1,125,000 (22500000/2)

    Subscription Receivable- Share

    Capital Ordinary 1,125,000 (22500000/2)

    July, 1 Cash 1,170,000

    Subscription Receivable – Share

    Capital Ordinary 1,170,000

    Subscribed- Share Capital Ordinary 1,560,000

    Share Capital- Ordinary 1,500,000 (30000*50)

    Additional Paid in Capital Ordinary 60,000 (30000*(52-50)

    July, 15 Cash 137,500 (25%*5000*110)


    Subscription Receivable- Share

    Capital Prefrence 137,500

    July, 18 Land 75,000

    Share Capital- Ordinary 70,000 (1400*50)

    Additional Paid in Capital-

    Ordinary 5,000 (75000-70000)

    July, 20 Cash 1,500,000 (750000+750000)

    Subscription Receivable – Share

    Capital Preference 750,000 (2250000*(2/6)

    Subscription Receivable- Share

    Capital Ordinary 750,000 (2250000*(2/6)

    Subscribed- Share Capital Preference 1,000,000

    Subscribed-Share Capital Ordinary 1,000,000

    Share Capital-Preference 1,000,000 (300000*(2/6)

    Share Capital-Ordinary 1,000,000 (300000*(2/6)


    July, 30 Cash 3,000,000

    Subscription Receivable – Share

    Capital Preference 1,500,000 (2250000*(4/6)

    Subscription Receivable- Share

    Capital Ordinary 1,500,000 (2250000*(4/6)

    Subscribed- Share Capital Preference 2,000,000

    Subscribed-Share Capital Ordinary 2,000,000

    Share Capital-Preference 2,000,000 (300000*(4/6)

    Share Capital-Ordinary 2,000,000 (300000*(4/6)

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