0, subsequently, the corporation purchased the share at par value. If the shares are sold by the corporation for P 150.00 per share, N subscribed for 100 shares of the corporation and paid the 70 shares. 2.2 What will be the document to be used, is it a subscription contract or pre-incorporation contract.

0, subsequently, the corporation purchased the share at par value. If the shares are sold by the corporation for P 150.00 per share, N subscribed for 100 shares of the corporation and paid the 70 shares. 2.2 What will be the document to be used, is it a subscription contract or pre-incorporation contract.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 42P

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A corporation issued shares with par value of P 200.00, subsequently, the corporation purchased the share at par value. If the shares are sold by the corporation for P 150.00 per share, N subscribed for 100 shares of the corporation and paid the 70 shares. 2.1 May he be issued stock certificates for the 70 shares? Explain your answer.
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