FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

39.An entity issues 1,000 shares with par value of P400 for land with fair value of P320,000, the entry to record the transaction includes a

image text in transcribed
image text in transcribed
39.An entity issues 1,000 shares with par value of P400 for land with fair value of P320,000, the entry to record the transaction includes a a debit to land for P400,000 credit to share capital for P320,000 credit to discount on share capital for P80,000 debit to discount on share capital for ?80,000 0.0691

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Financial Accounting for Business

Introductory Financial Accounting for Business

Authors: Thomas Edmonds, Christopher Edmonds

1st edition

1260299449, 978-1260299441

More Books

Students also viewed these Accounting questions

Question

★★★★★
Complete the crossword puzzle. Across: 2. Electronic linkage that allows different computers to share the same information 3. Main computer in a networked system 7. Cost-______ relationship must be...

Answered: 1 week ago

Question

★★★★★
In Example 2 in Section 5.1 we showed that 1 x2 dx = 1/3. Use this fact and the properties of integrals to evaluate 1 (5 6x2) dx.

Answered: 1 week ago

Question

★★★★★
Suppose a 95% confidence interval for the mean computed from a random sample of ???? = 65 observations is 48.8 to 50.76. Does this confidence interval provide convincing statistical evidence that (a)...

Answered: 1 week ago

Question

★★★★★
Tim Hortons restaurants operate in a variety of formats. A standard Tim Hortons restaurant is a freestanding building typically ranging in size from 1,400 to 3,090 square feet with a dining room and...

Answered: 1 week ago

Question

★★★★★
Hammerstein Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock award plan, the company, on January 1, 2018, granted 2 million of its $1 par common...

Answered: 1 week ago

Question

★★★★★
Deskin Corporation uses residual income to evaluate the performance of its divisions. The company's minimum required rate of return is 19%. In February, the Commercial Products Division had average...

Answered: 1 week ago

Question

★★★★★
An aluminium rod is a total of 900mm long and 50mm in diameter. Part of this bar is turned down to 40mm diameter for a length of 50mm each end. Calculate the total elongation when subjected to an...

Answered: 1 week ago

Question

★★★★★
Mr. Manalo opened a mini grocery store with Business name Manalo Trading. Operations began on April 1, 2021, and the following transactions were completed during the month: 1 Mr. Manalo withdrew...

Answered: 1 week ago

Question

★★★★★
Sharon contributes 5% of her annual earnings of $40,000.00 to her defined contribution pension plan. Her employer matches her contributions. Calculate Sharon's pension adjustment

Answered: 1 week ago

Question

★★★★★
Complete business activity and instalment activity statements in Australia Swanston Enterprises report GST quarterly on a cash basis. They had the following account balances (on a cash basis) for the...

Answered: 1 week ago

Question

★★★★★
14. A cylinder whose radius is 2 inches is removed from the right prism as shown. The ends of the prism have the shape of an equilateral triangle whose sides are 8 inches long. Find the volume of the...

Answered: 1 week ago

Question

★★★★★
A diamond merchant has a chance to buy one of 4 diamonds and wants to sell it Immediately. One costs only $1000, but he has a 90% chance of getting $5000 for it (or not selling it at all). The second...

Answered: 1 week ago

Question

★★★★★
5. Think through your own way of representing the world. What is your main pattern: Visually, verbally, emotions, smells, tastes?

Answered: 1 week ago

Question

★★★★★
1. Think of a situation in the workplace where you meet a person for the first time, which you know you will have a lot to do with in the future. a. Name three things about yourself that you will try...

Answered: 1 week ago

Question

★★★★★
3. List four points that you think are important to give the individual attention, when he or she is going to sell an argument or an idea to you.

Answered: 1 week ago

Previous Question Next Question