Exercise 1 On July 1, Pearl River Corporation purchases 500 of
its HK$30 par value ordinary shares for the treasury at a cash
price of HK$90 per share. On September 1, it sells 400 treasury
shares for cash at HK$90 per share. Journalize the two treasury
share transactions.
Exercise 2 Chard Inc. issues 6,000 $90 par value preference
shares for cash at $105 per share. Journalize the issuance of the
preference shares.
Exercise 3 Fields Corporation has 85,000 ordinary shares...