Natasha Company uses journal entry method in recording share capital transaction. On January 1, 2020, the company authorized to issue 100,000 shares with a par value of P10. What would be the correct entry for this transaction? Group of answer choices Cash                        1,000,000 Share Capital                        1,000,000 Authorized Share capital      1,000,000 Unissued Share Capital                  1,000,000 Unissued Share Capital            1,000,000 Authorized Share Capital            1,000,000 Only a memorandum entry is necessary

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Natasha Company uses journal entry method in recording share capital transaction. On January 1, 2020, the company authorized to issue 100,000 shares with a par value of P10. What would be the correct entry for this transaction?

Group of answer choices

Cash                        1,000,000
Share Capital                        1,000,000

Authorized Share capital      1,000,000
Unissued Share Capital                  1,000,000

Unissued Share Capital            1,000,000
Authorized Share Capital            1,000,000

Only a memorandum entry is necessary

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