-On June 1, 20x1, Eureka Co. issued 30,000 stock rights to itsshareholders. Each stock right entitles the holder to purchaseone ordinary share of Eureka Co. for P50. The par value pershare is P10 and the fair value per share is P80. Half of thestock rights were exercised on June 20, 20x1 and the remaininghalf expired on June 30, 20xl.Requirement: Provide the journal entries.

Company means the form of business where management is separately from owner and have perpetual…

-On June 1, 20x1, Eureka Co. issued 30,000 stock rights to its shareholders. Each stock right entitles the holder to purchase one ordinary share of Eureka Co. for P50. The share is P10 and the fair value per share is P80. Half of the stock rights were exercised on June 20, 20x1 and the remaining half expired on June 30, 20x1. par value per Requirement: Provide the journal entries.

-On June 1, 20x1, Eureka Co. issued 30,000 stock rights to its shareholders. Each stock right entitles the holder to purchase one ordinary share of Eureka Co. for P50. The share is P10 and the fair value per share is P80. Half of the stock rights were exercised on June 20, 20x1 and the remaining half expired on June 30, 20x1. par value per Requirement: Provide the journal entries.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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