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    PARCOR - EXERCISES 7 - Regalo Ko Na Yung No. 1

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    Lois Jaeda Dantic
    The document records transactions from August 1 to September 30 for a company issuing 100,000 ordinary shares at 50 PHP par value and 5,000 8% preference shares at 100 PHP par value. It records cash receipts from shareholders for subscriptions and payments for equipment, and the allocation of the cash to share capital, share premium, and reduction of subscription receivables.

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    Download as PDF, TXT or read online from Scribd

    PARCOR - EXERCISES 7 - Regalo Ko Na Yung No. 1

    Uploaded by

    Lois Jaeda Dantic
    26 views1 page
    The document records transactions from August 1 to September 30 for a company issuing 100,000 ordinary shares at 50 PHP par value and 5,000 8% preference shares at 100 PHP par value. It records cash receipts from shareholders for subscriptions and payments for equipment, and the allocation of the cash to share capital, share premium, and reduction of subscription receivables.

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    PARCOR - EXERCISES 7 - regalo ko na yung no. 1

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    The document records transactions from August 1 to September 30 for a company issuing 100,000 ordinary shares at 50 PHP par value and 5,000 8% preference shares at 100 PHP par value. It records cash receipts from shareholders for subscriptions and payments for equipment, and the allocation of the cash to share capital, share premium, and reduction of subscription receivables.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    26 views1 page

    PARCOR - EXERCISES 7 - Regalo Ko Na Yung No. 1

    Uploaded by

    Lois Jaeda Dantic
    The document records transactions from August 1 to September 30 for a company issuing 100,000 ordinary shares at 50 PHP par value and 5,000 8% preference shares at 100 PHP par value. It records cash receipts from shareholders for subscriptions and payments for equipment, and the allocation of the cash to share capital, share premium, and reduction of subscription receivables.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    1.

    ) Journal Entry:
    Aug 1
    Authorized to issue 100,000 ordinary shares at P50 par and 5,000 8% preference shares at P100 par

    Aug 1 Subscription Receivables - Ordinary 1,500,000


    Subscribed Share Capital - Ordinary 1,500,000

    Cash 500,000
    Subscription Receivables - Ordinary 500,000

    Aug 5 Subscription Receivables - Preference 2,000,000


    Subscribed Share Capital - Preference 2,000,000

    Cash 1,000,000
    Subscription Receivables - preference 1,000,000

    Aug 10 Cash 1,100,000


    Share Capital - Ordinary 1,000,000
    Share Premium - Ordinary 100,000

    Aug 12 Equipment 560,000


    Share Capital - Preference 500,000
    Share Premium - Prederence 60,000

    Aug 30 Cash 1,000,000


    Subscription Receivables - preference 1,000,000

    Subscribed Share Capital - Preference 2,000,000


    Share Capital - Preference 2,000,000

    Sep 1 Cash 500,000


    Subscription Receivables - Ordinary 500,000

    Sep 30 Cash 466,667


    Subscription Receivables - Ordinary 466,667

    Subscribed Share Capital - Ordinary 1,400,000


    Share Capital - Ordinary 1,400,000

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