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Jellies is a planetary business that follows IFRS.
The company had begun their calendar fiscal year of 2018 with 560,000 common shares issued and outstanding. Mr. Jell provided you with the following information on the company's transactions for the year.
Required:
Problem 1: Prepare journal entries, in proper format, to record all transactions listed below:
i) the issue of shares on February 1.
ii) the acquisition and cancellation of the treasury shares on April 1.
iii) the entries required on March 25.
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