An entity, Taylor, has issued equity share capital of 250,000 shares with a nominal value of $0.50 each and a share premium account balance of $100,000. What accounting entries are required if Taylor was to make a bonus issue of one share for four held?
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An entity, Taylor, has issued equity share capital of 250,000 shares with a nominal value of
$0.50 each and a share premium account balance of $100,000.
What accounting entries are required if Taylor was to make a bonus issue of one share for
four held?
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- Juniper Company is authorized to issue 5,000,000 shares of $2 par value common stock. In conjunction with its incorporation process and the IPO, the company has the following transaction: Mar. 1, issued 4,000 shares of stock in exchange for equipment worth $250,000. Journalize the transaction.Vishnu Company is authorized to issue 500,000 shares of $2 par value common stock. In conjunction with its incorporation process and the IPO, the company has the following transaction: Apr. 10, issued 1,000 shares of stock for legal services valued at $15,000. Journalize the transaction.Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys common stock and an increase in authorized common shares from 100,000 shares (par value 20 per share) to 200,000 shares (par value 10 per share). Baltimores shareholders equity items immediately before issuance of the stock split shares were as follows: What should be the balances in Baltimores Additional Paid-in Capital and Retained Earnings accounts immediately after the stock split is effected?
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