Question
JIJX issued 60,000 shares of P100 stated value in exchange for land and factory building with total fair value of P9 million pesos. The value
JIJX issued 60,000 shares of P100 stated value in exchange for land and factory building with total fair value of P9 million pesos. The value of land is thrice as much as the value of the building. What would be the entry of JIJX to record the transaction?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Principles Of Food Beverage And Labor Cost Controls
Authors: Paul R. Dittmer, J. Desmond Keefe III
9th Edition
0471783471, 978-0471783473
