The DWMR Corporation was incorporated on March 1, 2021 with the followiee authorized share capital: Ordinary share, no-par, 20,000 shares Preference share, P100 par, 5,000 shares During the month, the following selected transactions took place: Mar. 1 1,000 preference shares were subscribed at P100 per share. The subscribers paid 30% of their subscriptions. 4 Issued 10,000 ordinary shares in exchange for the following: Cash P25,000 Building valued at 6 Stock certificate for 30 preference shares was issued to the lawyer in payment for P3,000 legal work. 21 The preference subscribers paid their subscriptions in full, certificates were issued. 30 2,000 ordinary shares were sold for cash at P120 per share. 80,000 equirement:
The DWMR Corporation was incorporated on March 1, 2021 with the followiee authorized share capital: Ordinary share, no-par, 20,000 shares Preference share, P100 par, 5,000 shares During the month, the following selected transactions took place: Mar. 1 1,000 preference shares were subscribed at P100 per share. The subscribers paid 30% of their subscriptions. 4 Issued 10,000 ordinary shares in exchange for the following: Cash P25,000 Building valued at 6 Stock certificate for 30 preference shares was issued to the lawyer in payment for P3,000 legal work. 21 The preference subscribers paid their subscriptions in full, certificates were issued. 30 2,000 ordinary shares were sold for cash at P120 per share. 80,000 equirement:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 9P: Comprehensive Young Corporation has been operating successfully for several years. It is authorized...
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