Group Assignment 5, Due Date: 29 Sep 2019 Problem 16.8 Share issues and statement of changes in equity Gundagai Ltd was incorporated on 30 June 2016. On 1 July 2016, the company issued a prospectus offering 300 000 ordinary shares at an issue price of $10, payable on the following terms: application $3 on allotment $3 on $2 on first call $2 on second call A summary of the applications and allotments register follows: Number of shares applied for 200 000 Number of shares allotted Amount paid per share on application $ 3 150 000 100 000 100 000 $6 50 000 50 000 $10 on 1 September 2016. All money received in excess of applied to amounts due on allotment and calls. Where appropriate, Shares were allotted to all applicants application was refunds of application money were made. All allotment money was received by 30 September 2016. атоиnts duе оn On 1 November 2016, Gundagai Ltd's directors made a call of 42c per share, payable by 30 November 2016. By 31 December, call money had not been received from holders of 25 000 shares. Required Prepare the ledger accounts (running balance format) for the period 1 July to 31 December В. А. Prepare journal entries to record the above events. 2016. Prepare the statement of changes in equity for the period ending 31 December 2016 C.

Issuing Common Stock Palan Products Inc. sold 46,750 shares of common stock to stockholders at the time of its incorporation. Palan received $48 per share for the stock. Required: Question Content Area 1.  Assume that the stock has a $16 par value per share. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank.

View Policies Show Attempt History Current Attempt in Progress Ivanhoe Inc. (II) is a backyard pond design and installation company. Il was incorporated during 2023, with an unlimited number of common shares, and 47,000 preferred shares with a $3 dividend rate authorized. Il follows ASPE. The following transactions took place during the first year of operations with respect to these shares: Jan. 1 an. 15 Feb. 20 Mar. 3 Sept. 23 The articles of incorporation were filed and state that an unlimited number of common shares and 47,000 preferred shares are authorized. 28 28,200 common shares were sold by subscription to 3 individuals, who each purchased 9,400 shares for $47 per share. The terms require 9% of the balance to be paid in cash immediately. The balance was to be paid by December 31 2024 at which time the shares will be issued 31, 2024, at which time the shares will be issued. 65,800 common shares were sold by subscription to 7 individuals, who each purchased 9,400 shares for $47…

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