BOA Corporation's articles authorized the issuances of 100,000 ordinary shares. BOA sold the followin ordinary shares during 2020. Feb 12 Sold 1,000 shares for P100,000. July 10 Sold 5,000 shares for P630,000. Nov 5 Sold 7,500 shares for P1, 050, 000. Required: Prepare Journal Entries to record each issuance, assuming that The ordinary shares has a P100 par value The ordinary shares has a P10 stated value.

BOA Corporation's articles authorized the issuances of 100,000 ordinary shares. BOA sold the followin ordinary shares during 2020. Feb 12 Sold 1,000 shares for P100,000. July 10 Sold 5,000 shares for P630,000. Nov 5 Sold 7,500 shares for P1, 050, 000. Required: Prepare Journal Entries to record each issuance, assuming that The ordinary shares has a P100 par value The ordinary shares has a P10 stated value.

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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Question

BOA Corporation's articles authorized the issuances of 100,000 ordinary shares. BOA sold the following
ordinary shares during 2020.
Feb 12 Sold 1,000 shares for P100,000.
July 10 Sold 5,000 shares for P630, 000.
Nov 5 Sold 7,500 shares for P1, 050, 000.
Required: Prepare Journal Entries to record each issuance, assuming that:
The ordinary shares has a P100 par value
The ordinary shares has a P10 stated value.

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