Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ayayai SLU issued 1,000 ordinary shares. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is

image text in transcribedimage text in transcribed

Ayayai SLU issued 1,000 ordinary shares. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The shares had a par value of 4.00 per share and was issued for a total of 45,000. (b) The shares had a stated value of 4.00 per share and was issued for a total of 45.000. (c) The shares had no par or stated value and was issued for a total of 45,000. (d) The shares had a par value of 4.00 per share and was issued to attorneys for services during incorporation valued at 45,000. (e) The shares had a par value of 4.00 per share and was issued for land worth 45.000. No. Account Titles and Explanation Debit Credit (a) (b) 0 (c) (d) (e)

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

The Controllers Toolkit

Authors: Christine H. Doxey

1st Edition

1119700647, 9781119700647

More Books

Students also viewed these Accounting questions

Question

5. How is Mr. Bonner encouraging Marcuss self-efficacy?

Answered: 1 week ago