On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued. Instructions: Prepare journal entries to record the preceding transaction.
On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued. Instructions: Prepare journal entries to record the preceding transaction.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 3 – 5 (Issuance of Share Capital on a Subscription Basis)
On June 1, 2019, Carey, Inc. sold 30,000 shares of its P20 par value ordinary share capital on a subscription basis at P30 per share. Carey received a 60% down payment on the date of subscription. On September 8, 2019, Carey received the balance on the subscription and the stock certificates were issued.
Instructions: Prepare
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