On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued. Instructions: Prepare journal entries to record the preceding transaction.
On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued. Instructions: Prepare journal entries to record the preceding transaction.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter1: Accounting And The Financial Statements
Section: Chapter Questions
Problem 41E: Exercise 1-41 Stockholders Equity OBJECTIVE o On January 11 2019, Mulcahy Manufacturing Inc., a...
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Exercise 3 – 5 (Issuance of Share Capital on a Subscription Basis)
On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued.
Instructions: Prepare
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