Natasha Company uses journal entry method in recording share capital transaction. On January 1, 2020, the company authorized to issue 100,000 shares with a par value of P10. What would be the correct entry for this transaction?

Group of answer choices

Cash 1,000,000 Share Capital 1,000,000

Authorized Share capital 1,000,000 Unissued Share Capital 1,000,000

Unissued Share Capital 1,000,000 Authorized Share Capital 1,000,000

Only a memorandum entry is necessary

Under the memorandum entry method of accounting for share capital transactions, how would TINY journalize the transaction on February 3, 2020?

Group of answer choices

Subscription Receivable 250,000 Subscribed Share Capital 250,000

Cash 250,000 Share Capital 250,000

Subscription Receivable 250,000 Share Capital 250,000

None, since the transaction will be recorded through memorandum entry only.

Under the journal entry method of accounting for share capital transactions, how would TINY journalize the issuance of shares on February 10, 2020?

Group of answer choices

Subscribed Share Capital 50,000 Share Capital 50,000

Subscribed Share Capital 32,500 Share Capital 32,500

Subscribed Share Capital 50,000 Unissued Share Capital 50,000

Subscribed Share Capital 32,500 Unissued Share Capital 32,500