Justine Corp Received Its Charter and Began Business in 2015

question 96

Essay

Justine Corp received its charter and began business in 2015.The company was authorized to issue 20,000,$5,noncumulative preferred shares and an unlimited number of common shares.Prepare journal entries to record the following transactions that occurred during 2015:

---

Definitions:

Amaterasu

The Shinto sun goddess and one of the major deities in Japanese mythology, symbolizing the universe’s life-giving forces.

Phoenix Hall

Also known as the Hoodo of Byodoin Temple in Uji, Japan, a prime example of Heian-era Pure Land Buddhist architecture, symbolizing the Paradise of the Amida Buddha.

Byodo-in

A historic Buddhist temple in the city of Uji in Kyoto Prefecture, Japan, exemplifying Heian period architecture and garden design.

Pure Land

A branch of Mahayana Buddhism focusing on the devotion to Amitabha Buddha, aiming for rebirth in his Pure Land, a place of bliss.