Melon Corporation

On January 1, 2021, Melon Corporation contracted Mr. Coco to be the endorser of Melons new product. Melon

shall issue 1,300 shares with par value per share of P1 in consideration for the services receive. All of the required

services on the contract have been rendered on March 1, 2021. Information on fair values is shown below

Fair Values January 1, 2021 March 1, 2021

Modeling services 9,000 10,000

Shares P9 per share P10 per share

1. Assuming Coco is an employee of Melon Corporation Advertising expense will have a debit of?

2. Assuming Coco is an employee of Melon Corporation Share Premium is credited at?

3. Assuming Coco is not an employee of Melon Corporation Advertising expense will have a debit of?

4. Assuming Coco is not an employee of Melon Corporation Share Premium is credited at?