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Record in the books the transactions

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Question - RUSS Corporation was organized January 1, 2021 with authorized 200,000 ordinary shares of P50 par value and 100,000 preference shares with par P10

Jan 2 Issued for cash 35% of authorized ordinary shares at par and 45% of authorized preference shares at par

Jan 10 Issued 20,000 preference shares at P51

Jan 12 Issued 50% of authorized ordinary shares at P52

Feb 3 Issued 2,000 ordinary shares in exchange for store furniture valued at P125,000

May 5 Issued remaining ordinary shares at P52

June 2 Issued remaining preference shares at P11

Record in the books the transactions above (upload your working paper in the last question of this exercise) and Determine balances of the following:

Ordinary Share Capital:

Share Premium - Ordinary Share:

Preference Share Capital:

Share Premium - Preference Share:

Total Shareholders' Equity:

Reference no: EM133139239

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