Prepare journal entries for company

Reference no: EM133208683

Question

On 1 Jan 2015, a shareholder contributes $12,000 into Wonderland Ltd. by buying 10,000 ordinary shares. The company immediately uses the raised capital to purchase a machinery for $10,000.

Required: Prepare journal entries for the company on 1 Jan 2015?

Reference no: EM133208683

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