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Corporations: Share Capital, Retained Earnings and Fina Roa Corporation's articles authorized the issuance of 100,000 ordinary shares. Roa sold the following ordinary shares during 2019.
Corporations: Share Capital, Retained Earnings and Fina Roa Corporation's articles authorized the issuance of 100,000 ordinary shares. Roa sold the following ordinary shares during 2019. Prepare journal entries to record each issuance, assuming that: SCORE: PROFESSOR: NAME: SECTION: Problem #1 shares Issuance for Cash Feb. 12 July 10 Nov.5 Sold 1,000 shares for P100,000. Sold 5,000 shares for P630,000. Sold 7,500 shares for P1,050,000. Required: 1. the ordinary shares has a P100 par value. 2. the ordinary shares has a P10 stated value. 3. the ordinary shares has no-par or stated value
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