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SHEA Corp. was organized on January 2020. Share capital transactions for the year are shown below: Jan. -5- Authorized to issue 50,000 shares of P10 par value ordinary share. 10-Issued 12,500 shares at P11 per share. Mar.- 25- Issued 500 shares for legal services valued at P6,000. Sept-30-Issued 2,500 shares for a tract of land valued at P65,000. As of Sept. 30, the balance of the Share Capital is: Select the correct response O P155,000 O P150,000 O P140,000 O P130,000

SHEA Corp. was organized on January 2020. Share capital transactions for the year are shown below: Jan. -5- Authorized to issue 50,000 shares of P10 par value ordinary share. 10-Issued 12,500 shares at P11 per share. Mar.- 25- Issued 500 shares for legal services valued at P6,000. Sept-30-Issued 2,500 shares for a tract of land valued at P65,000. As of Sept. 30, the balance of the Share Capital is: Select the correct response O P155,000 O P150,000 O P140,000 O P130,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question 19 of 75 SHEA Corp. was organized on January 2020. Share capital transactions for the year are shown below: Jan. - 5- Authorized to issue 50,000 shares of P10 par value ordinary share. 10-Issued 12,500 shares at P11 per share. Mar.- 25- Issued 500 shares for legal services valued at P6,000. Sept. - 30- Issued 2,500 shares for a tract of land valued at P65,000. As of Sept. 30, the balance of the Share Capital is: Select the correct response: O P155,000 O P150,000 O P140,000 O P130,000 < Previous
Transcribed Image Text:Question 19 of 75 SHEA Corp. was organized on January 2020. Share capital transactions for the year are shown below: Jan. - 5- Authorized to issue 50,000 shares of P10 par value ordinary share. 10-Issued 12,500 shares at P11 per share. Mar.- 25- Issued 500 shares for legal services valued at P6,000. Sept. - 30- Issued 2,500 shares for a tract of land valued at P65,000. As of Sept. 30, the balance of the Share Capital is: Select the correct response: O P155,000 O P150,000 O P140,000 O P130,000 < Previous
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