Pupil, Inc. prepares this journal entry on June 30, 2019. Issued ordinary share capital for P140/share. DR Cash P70,000 CR Ordinary share capital P65,000 CR Ordinary share premium P5,000. How many shares were issued?  Using data above, what is the par value per share for this share capital?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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  • Pupil, Inc. prepares this journal entry on June 30, 2019. Issued ordinary share capital for P140/share. DR Cash P70,000 CR Ordinary share capital P65,000 CR Ordinary share premium P5,000. How many shares were issued? 

  • Using data above, what is the par value per share for this share capital?
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