shares of ordinary share capital. Subsequently, 250,000 shares were issued at P25 per The Security Corporation was organized on May 1, 2014 and is authorized to issue 500,000 Exercise 8 - 3 (Issuance of Various Classes of Share Capital for Cash) share. Iastructions: Prepare the journal entries to record authorized share capital and the issuance the 250,000 shares using the memorandum entry method under each of the following independent assumptions: 1. Each ordinary share has a par value of P20. 2. Each ordinary share has a stated value of P15. 3. The ordinary shares have no par and no stated value.

shares of ordinary share capital. Subsequently, 250,000 shares were issued at P25 per The Security Corporation was organized on May 1, 2014 and is authorized to issue 500,000 Exercise 8 - 3 (Issuance of Various Classes of Share Capital for Cash) share. Iastructions: Prepare the journal entries to record authorized share capital and the issuance the 250,000 shares using the memorandum entry method under each of the following independent assumptions: 1. Each ordinary share has a par value of P20. 2. Each ordinary share has a stated value of P15. 3. The ordinary shares have no par and no stated value.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter15: Shareholders’ Equity: Capital Contributions And Distributions

Section: Chapter Questions

Problem 24P

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