When Marlou Corp. was formed on January 2020, the corporate charter provided for 100,000 share of P10 par Value stock. The corporation issues 9,000 shares at a price of P23 per share. The entry to record the above transaction would include a? A. credit Additional paid in capital for P117,000 B. credit Share Capital for P207,000 C. debit Share Capital for P90,000 D. debit Cash for P90,000

Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
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Question 2.) When Marlou Corp. was formed on January 2020, the corporate charter provided for 100,000 share of P10 par Value stock. The corporation issues 9,000 shares at a price of P23 per share. The entry to record the above transaction would include a? A. credit Additional paid in capital for P117,000 B. credit Share Capital for P207,000 C. debit Share Capital for P90,000 D. debit Cash for P90,000
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