Full file at https://testbankuniv.eu/Accounting-Volume-2-Canadian-9th-Edition-Horngren-Solutions-Manual
Decision Problem (30-45 min.) Decision
Req. 1
Problem
General Journal DATE
ACCOUNT TITLES AND EXPLANATIONS Software Common Shares (100,000 shares) To incorporate the business and issue common shares to the incorporators for their software.
POST. REF.
DEBIT 100,000
CREDIT 100,000
Req. 2
General Journal DATE
ACCOUNT TITLES AND EXPLANATIONS Plan 1: Cash Preferred Shares (1,000 shares) To issue preferred shares to outside investors.
POST. REF.
Cash Common Shares (60,000 shares) To issue common shares to outside investors. Plan 2: Cash Preferred Shares (1,200 shares) To issue preferred shares to outside investors.
DEBIT
CREDIT
100,000 100,000
72,000 72,000
150,000
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Full file at https://testbankuniv.eu/Accounting-Volume-2-Canadian-9th-Edition-Horngren-Solutions-Manual
150,000
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