issuing at P15 per share one-half of the 950,000 ordinary On January 1, 2021. "enn Conmpany began operations by shares of P10 par value that had been authorized for' sale In addition, the entity had 500,000 authorized preference shares of P5 par value. During 2021, the entity had P1,025,000 of net income and declared P230,000 of dividend. During 2022, the entity had the following transactions: Issued 100,000 ordinary shares for P17 per share. Issued 150,000 preference shares for P8 per share. Authorized the purchase of a custom-made machine to be delivered in January 2023. The entity matricted P300
issuing at P15 per share one-half of the 950,000 ordinary On January 1, 2021. "enn Conmpany began operations by shares of P10 par value that had been authorized for' sale In addition, the entity had 500,000 authorized preference shares of P5 par value. During 2021, the entity had P1,025,000 of net income and declared P230,000 of dividend. During 2022, the entity had the following transactions: Issued 100,000 ordinary shares for P17 per share. Issued 150,000 preference shares for P8 per share. Authorized the purchase of a custom-made machine to be delivered in January 2023. The entity matricted P300
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 81PSA
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