Subject:AccountingPrice:2.86 Bought12
The Rahel S. Abate Corporation was authorized to issue 500,000 no-par value common shares. There were 200,000 shares outstanding for a total value of $2,000,000 as at December 31, 20X6 there were retained earnings of $500,000. During 20X7, The Rahel S. Abate Corporation carried out the following transactions:
Required:
Prepare the journal entries for each of the above transactions.