Answer:
Debit Cash $260,148; credit Premium on Bonds Payable $10,148; credit Bonds Payable $250,000
Explanation:
The journal entry is shown below:
Cash $260,148
To Bond payable $250,000
To Premium on bonds payable $10,148
(Being the issuance of the bond is recorded)
While recording this we debited the cash as cash is received and credited the bond payable as it increased the liabilities and the difference is credited to the premium on bonds payable i.e $10,148
The number of authorized actions may be the most important. Authorized share capital is the maximum capital a company can issue.
Permitted shares are defined as the maximum number of shares that a company is legally permitted to issue to investors at the company's own discretion. The maximum number is established in the company's legal incorporation documents, known as the articles of association.
If a company wishes to increase its authorized share capital, it must amend its charter, which usually requires a vote of the shareholders. This shareholder approval is important because a company that issues more shares will eventually dilute the ownership of existing investors.
To learn more about authorized share capital
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Answer:
Pauls' share in partnership=(131000+91000+111000+171000)*0.15%= $75600
Balance in Caitlin’s capital account immediately after Paul’s admission = 131000-(75600-71000)*30%= $129160
