Review of Illustrative Problems
stration 1.
Alka Company was registered on Baishak, 2077 with authorized capital of 50,000 shares
of Rs. 5
par common
stock and 20,000 shares of Rs. 100 par, 8% preferred stock. The following
events occurred during
2077. Alka wants to record the events and develop financial
statements on Chaitra 31,
2077.
i
ii.
Issued for cash 10,000 shares of common stock at Rs. 25 per share and 1,000 shares of
preferred stock at Rs. 110 per share on Baishak 15, 2077.
Acquired a patent Shrawan 1, in exchange for 2,000 shares of common stock. At the time
of the exchange, the common stock was selling on the Nepal Stock Exchange for Rs. 30
per share.
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