During the incorporation of J Inc., it issued 1,000 shares at Php205/share, par value is at Php180/share Stock issue costs amounted to Php30,000 was paid in the process. Also, the Inc. issued 500 shares to attorneys for services in securing the corporate charter and for preliminary legal cost of organizing the corporation with the fair value of the 100,000 for the service. What is the journal entry of the following (a) Stock issuance (b) Stock Issue Cost (c) Organizational cost

During the incorporation of J Inc., it issued 1,000 shares at Php205/share, par value is at Php180/share Stock issue costs amounted to Php30,000 was paid in the process. Also, the Inc. issued 500 shares to attorneys for services in securing the corporate charter and for preliminary legal cost of organizing the corporation with the fair value of the 100,000 for the service. What is the journal entry of the following (a) Stock issuance (b) Stock Issue Cost (c) Organizational cost

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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