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On January 1, 2020, Firefly Corporation had 120,000 ordinary shares with a Php10 par value issued and outstanding. Durin
Posted: Sun Jun 05, 2022 9:26 pm
by answerhappygod
- On January 1 2020 Firefly Corporation Had 120 000 Ordinary Shares With A Php10 Par Value Issued And Outstanding Durin 1 (453.18 KiB) Viewed 37 times
On January 1, 2020, Firefly Corporation had 120,000 ordinary shares with a Php10 par value issued and outstanding. During the year, the following transactions occurred: Transaction March 1 Issued 20,000 ordinary shares for Php25 per share. June 1 Declared a cash dividend of Php3 per share to shareholders of record on June 15. Paid the Php3 cash dividend. June 30 Dec. 1 Dec. 15 Purchased 5,000 ordinary shares for the treasury for Php20 per share. Declared a cash dividend on outstanding shares of Php2.50 per share to shareholders of record on December 31. Requirement: Prepare all the journal entries for 2020