Jahnke Corporation issued 8,000 shares of €2 par value ordinary shares for €11 per share.

ACC 291 Entire Course Link

https://uopcourses.com/category/acc-291/
Jahnke Corporation issued 8,000 shares of €2 par value ordinary shares for €11 per share. The journal entry to record the sale will include

 

a debit to Cash for €16,000.

 

a credit to Share Premium–Ordinary for €72,000.

 

a credit to Share Capital–Ordinary for €88,000.

 

a debit to Retained Earnings for €72,000.
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