Prob Subscription of Shares Sousa Caterers, Inc. was organized on May 13, 2019 and the articles stipulated the following authorized capital: a. 4,500 shares of preference shares, P110 par value b. 42,000 shares of ordinary shares, P30 par value Sousa Caterers, Inc. completed the following transactions during its first year of operations: 8 Received subscriptions to 14,000 ordinary shares at P30 per share; collected 65% of the subscription price. June 7 Subscribers to 14,000 ordinary shares paid an additional 20% of the May subscription price. July 6 Subscribers to 14,000 ordinary shares paid an additional 15% of the subscription price. Sousa Caterers, Inc. issued the 14,000 shares of stock. 14 Received subscriptions to 4,300 ordinary shares at P32 per share; collected 60% of the subscription price. Sept. kequired: Prepare the journal entries. mera
Prob Subscription of Shares Sousa Caterers, Inc. was organized on May 13, 2019 and the articles stipulated the following authorized capital: a. 4,500 shares of preference shares, P110 par value b. 42,000 shares of ordinary shares, P30 par value Sousa Caterers, Inc. completed the following transactions during its first year of operations: 8 Received subscriptions to 14,000 ordinary shares at P30 per share; collected 65% of the subscription price. June 7 Subscribers to 14,000 ordinary shares paid an additional 20% of the May subscription price. July 6 Subscribers to 14,000 ordinary shares paid an additional 15% of the subscription price. Sousa Caterers, Inc. issued the 14,000 shares of stock. 14 Received subscriptions to 4,300 ordinary shares at P32 per share; collected 60% of the subscription price. Sept. kequired: Prepare the journal entries. mera
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 8SPB: STOCK SUBSCRIPTIONS Athletics West had the following stock transactions during the year: (a)...
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