The Rogers Company is authorized to issue 50 000 ordinary shares of P30 par value. Record the following transactions in Journal entry form. (a) Issued 10 000 shares at par value, received cash. (b) Issued 250 shares to attorney's for services in securing the corporate charter and for preliminary legal costs of organizing the corporation. The value of the services was P 9 000. (c) Received subscriptions for 300 shares at P4O. (d) Collected the above ordinary shares subscriptions and issued stock Certificate. (e) issued 8 500 shares of stock in exchange for buildings valued at P 175 000 and land valued P 80 000 (f) Received cash for 6 500 shares of stock sold at P38 per share. (g) issued 4 000 shares at P45; received cash.
The Rogers Company is authorized to issue 50 000 ordinary shares of P30 par value. Record the following transactions in
(a) Issued 10 000 shares at par value, received cash.
(b) Issued 250 shares to attorney's for services in securing the corporate charter and for preliminary legal costs of organizing the corporation. The value of the services was P 9 000.
(c) Received subscriptions for 300 shares at P4O.
(d) Collected the above ordinary shares subscriptions and issued stock Certificate.
(e) issued 8 500 shares of stock in exchange for buildings valued at P 175 000 and land valued P 80 000
(f) Received cash for 6 500 shares of stock sold at P38 per share.
(g) issued 4 000 shares at P45; received cash.
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