Accountıng Iı Deneme Sınavı Sorusu #1040466
On December 12, Anadolu Co. has purchased 5,000 shares of AOF Corp. by paying 2.00 TL for each share. Additionally, the company paid 350 TL for brokerage fees, taxes and other fees.
When the shares are purchased on December 12, how will Anadolu Co. prepare the record?
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Debit: Dividends Receivable - 10,350 Credit: Dividends Reveneu - 10,350 |
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Debit: Cash - 10,350 Credit: Dividends Receivable - 10,350 |
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Debit: Dividends Receivable - 10,350 Credit: Cash - 10,350 |
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Debit: Cash - 10,350 Credit: Available for Sale Securities (Common Stock) - 10,350 |
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Debit: Available for Sale Securities (Common Stock) - 10,350 Credit: Cash - 10,350 |
Cost of Share: Purchase price (5,000 shares x 2.00 TL) + Other Purchase related Fees (350 TL). Therefore,
Debit: Available for Sale Securities (Common Stock) - 10,350
Credit: Cash - 10,350
The correct answer is E.
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