EXERCISE 13.

Sorocaba Co.
Journalized
Date Titles and Explanation Ref
Mar-02 Organization Expense
Share Capital-Ordinary
(5,000 * $1)
Share Premium-Ordinary

Jun-12 Cash
Share Capital-Ordinary
(60,000 * $1)
Share Premium-Ordinary

Jul-11 Cash
(1000 * R$110)
Share Capital-Preference
(1,000 * R$1,00)
Share Premium-Preference
(1,000 * R$10)

Nov-28 Treasury Shares

Cash
Dr Cr
44000

5000
39000

468000
60000
408000

110000

100000

10000

18000
18000
 A
Exercise 13.8 Bergin ASA
Journalization at the end you 2020
Date Titles & Explanation Ref Dr
Mar-01 Treasury Shares 600000
(50,000 * 12)
Cash

Jul-01 Cash 140000

(10,000 * 14)
Treasury Shares
(10,000 * 12)
Share Premium-Treasury
(10,000 * 2)

Sep-01 Cash 80000

(8,000 * 10)
Share Premium-Treasury 8000
(8,000 * $1)
Treasury Shares
 B
Titles Dr
Cash 72000
Cr (8,000 * $9)
Share Premium-Treasury 20000
Retained Earnings 4000
600000 Treasury Shares
(8,000 * $12)

120000

20000

88000
Cr

96000
Exercise 13.3

Punjab Limited
Journal Issuance Ordinary Shares
Date Titles & Explanations Ref
10-Jan Cash
(70,000 * Rs5)
Share Capital-Ordinary

Jul-01 Cash
(30,000 * Rs7)
Share Capital-Ordinary
(30,000 * Rs5)
Share Premium-Ordinary
(30,000 * Rs2)
 Punjab Limited
ry Shares Journal Issuance Ordinary Sha
Dr Cr Date
350000 10-Jan

350000

210000

150000
Jul-01
60000
 Punjab Limited
Journal Issuance Ordinary Shares
Titles & Explanations Ref Dr Cr
Cash 350000
(70,000 * Rs5)
Share Capital-Ordinary 70000
(70,000 * Rs1)
Share Premium-Ordinary 280000
(70,000 * Rs 4)

Cash 210000
(30,000 * Rs7)
Share Capital-Ordinary 30000
(30,000 * Rs1)
Share Premium-Ordinary 180000
(30,000 * Rs6)
Problem 13.2

A.
Elston Limited
Journal Treasury Shares
Date Account & Titles Ref Dr
Mar-01 Treasury share 45000
(5,000 * 9)
Cash

Jun-01 Cash 6000

(500 * 12)
Treasury Share
(500 * 9)
Premium Treasury
(500 * 3)

Sep-01 Cash 25000

(2,500 * 10)
Treasury Shares
(2,500 * 9)
Share Premium-Treasury
(2,500 * 1)

Dec-01 Cash 6000

(1,000 * 6)
Share Premium-Treasury 3000
(1,000 * 3)
Treasury Shares
(1,000 * 9)

31-Dec Income Summary 34000

Retained Earnings
 B.
Share Premium-Treasury
Date Explanation Ref Dr
Cr Jun-01
Sep-01
Dec-01 3000
45000

Treasury Shares
Date Explanation Ref Dr
4500 Mar-01 45000
Jun-01
1500 Sep-01
Dec-01

Retained Earnings
22500 Date Explanation Ref Dr
Jan-01 Balance
2500 Dec-31

9000

34000
 C.
m-Treasury Equity
Cr Balance Share Capital-Ordinary, $5 par
1500 1500 Share Issued ( 80,000 )
2500 4000 Outstanding ( 79,000 )
1000 Share Premium-Ordinary
Share Premium-Treasury
Retained earnings
hares Less: Treasury Shares ( 1,000 )
Cr Balance Total Equity
45000
4500 40500
22500 18000
9000 9000

rnings
Cr Balance
100000
34000 134000
dinary, $5 par

400000
200000
1000
134000
9000
726000