Journal entry for issue of 30,000 ordinary shares with $2 par value on January 1, 2017: Date Account Particulars Debit Credit

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1. Journal entry for issue of 30,000 ordinary shares with $2 par value on January 1, 2017: Date Account Particulars Debit Credit January 1,2017 Bank A/c $150,000 To Securities Premium A/c (30,000 shares * $3) $90,000 To Share Capital A/c (30,000 share.

Transcribed image text: (B) On January 1, 2017, Fairly Company issued 30,000 ordinary shares with a $2 par value for $150,000. On March 1, 2017, the company purchased 4,000 ordinary shares for $8 per share for the treasury. On June 1, 2017, 1,000 of the treasury shares are sold for $10 per share. On September 1, 2017, 2,000 treasury shares are sold at $6 per share. Required: Journalize the share transactions of Fairly Company in 2017.


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