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The following data were from taken the records of valencia frutti corpration:
Share capital, 50 PAR 3,000 SHARES AUTHORIZED
1,000 shares issuesd....................50,000
Premium on share capital..............................................................3,000
Retained earnings...............................................................................10,000
REQUIRED:
1. Journal entry record the acquisition of the treasury shares.
2. Journal entry to record the sale of the treasury shares under the three given cases.
Mason Co. issued $900,000 of four-year, 12% bonds with interest payable semiannually, Determine the present value of the bonds payable
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