The Banco de Plata was organized on April1, 2018 and is authorized to issue 250,000 shares of Ordinary Share Capital. Thereafter, 62,500 shares were issued at P 25 per share. Prepare the journal entries to record the authorization of the share capital and the issuance of the 62,500 shares using the memorandum entry method and the journal entry method under of the following independent cases: a) Each ordinary share has a par value of P 20 b) Each ordinary share has a stated value of P 15 c) Each ordinary share have a no par value and no stated value

The Banco de Plata was organized on April1, 2018 and is authorized to issue 250,000 shares of Ordinary Share Capital. Thereafter, 62,500 shares were issued at P 25 per share. Prepare the journal entries to record the authorization of the share capital and the issuance of the 62,500 shares using the memorandum entry method and the journal entry method under of the following independent cases: a) Each ordinary share has a par value of P 20 b) Each ordinary share has a stated value of P 15 c) Each ordinary share have a no par value and no stated value

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 4PA: Wingra Corporation was organized in March. It is authorized to issue 500,000 shares of $100 par...

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