On February 2019, AOT Corporation authorized 20,000 preference shares at P 125 par value per share and 100,000 no par value ordinary shares. On April 2019, 1,500 preference shares were issued for P 200 per share. During the same month, 5,000 no par ordinary shares were also issued for P 250,000. Provide the journal entry of the share issuance on April 2019
On February 2019, AOT Corporation authorized 20,000 preference shares at P 125 par value per share and 100,000 no par value ordinary shares. On April 2019, 1,500 preference shares were issued for P 200 per share. During the same month, 5,000 no par ordinary shares were also issued for P 250,000. Provide the journal entry of the share issuance on April 2019
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On February 2019, AOT Corporation authorized 20,000 preference shares at P 125 par value per share and 100,000 no par value ordinary shares. On April 2019, 1,500 preference shares were issued for P 200 per share. During the same month, 5,000 no par ordinary shares were also issued for P 250,000.
Provide the journal entry of the share issuance on April 2019
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