Journalize. Analyze and journalize the following transactions. On July 1, Sarangani Marketing Corporation is authorized to issue 10,000 ordinary shares at P100 par value per share. On July 2, 2020 the six (6) incorporators have subscribed to 2,500 shares at par value and paid P62,500 of the subscription. Other transactions follow: July 16 Neria Asperga subscribed to 100 ordinary shares and made down payment of P4,500. 18 Narvin La'chica subscribed to 100 ordinary shares. Elizabeth Palma Gil, one of the incorporators, paid her subscription balance in full and a share certificate for 200 shares was issued: 200 shares subscribed at P100 Less: 25% subscription payment Balance P 20,000 5,000 P 15,000 25 Received cash of P35,000 from the incorporators as partial payment of their subscription balances. 30 31 Neria Asperga paid the subscription balance in full and a share certificate is issued.

Journalize. Analyze and journalize the following transactions. On July 1, Sarangani Marketing Corporation is authorized to issue 10,000 ordinary shares at P100 par value per share. On July 2, 2020 the six (6) incorporators have subscribed to 2,500 shares at par value and paid P62,500 of the subscription. Other transactions follow: July 16 Neria Asperga subscribed to 100 ordinary shares and made down payment of P4,500. 18 Narvin La'chica subscribed to 100 ordinary shares. Elizabeth Palma Gil, one of the incorporators, paid her subscription balance in full and a share certificate for 200 shares was issued: 200 shares subscribed at P100 Less: 25% subscription payment Balance P 20,000 5,000 P 15,000 25 Received cash of P35,000 from the incorporators as partial payment of their subscription balances. 30 31 Neria Asperga paid the subscription balance in full and a share certificate is issued.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...

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