2. Twilight Co. has an authorized capitalization of P2,000,000 divided into 20,000 shares with par value per share of P100 Twilight Co. received a cash subscription for 5,000 shares at P120 per share on January 1, 20x1 and a subscription for 2,000 shares at P160 per share on January 31, 20x1. Requirement: Provide the journal entries.

2. Twilight Co. has an authorized capitalization of P2,000,000 divided into 20,000 shares with par value per share of P100 Twilight Co. received a cash subscription for 5,000 shares at P120 per share on January 1, 20x1 and a subscription for 2,000 shares at P160 per share on January 31, 20x1. Requirement: Provide the journal entries.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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