Homework Help is Here – Start Your Trial Now!
Business
Accounting
Vhat is the journal entry to record issuance of the shares 大

Vhat is the journal entry to record issuance of the shares 大

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
The Tiger Corp. is authorized to issue 20,000 ordinary shares with a par value of P150. During the current year, the Corporktion issued 12,000 shares for P 175 per share.. What is the journal entry to record issuance of the shares * O Dr. Cash for P2,100,000 and Credit Ordinary Shares for P 2,100,000 Dr. Cash P2,100,000 and Cr. Ordinary Shares P1,800,000 and Share Premium P300,000 Dr. Ordinary Shares for P2,100,000 and Cr. Cash forP2,100,000 Dr. Ordinary Shares P1,800,000 and Share Premium P300,000 and Cr. Cash for P2,100,000 A copy of vour responses will be emailed to the address you provided,
Transcribed Image Text:The Tiger Corp. is authorized to issue 20,000 ordinary shares with a par value of P150. During the current year, the Corporktion issued 12,000 shares for P 175 per share.. What is the journal entry to record issuance of the shares * O Dr. Cash for P2,100,000 and Credit Ordinary Shares for P 2,100,000 Dr. Cash P2,100,000 and Cr. Ordinary Shares P1,800,000 and Share Premium P300,000 Dr. Ordinary Shares for P2,100,000 and Cr. Cash forP2,100,000 Dr. Ordinary Shares P1,800,000 and Share Premium P300,000 and Cr. Cash for P2,100,000 A copy of vour responses will be emailed to the address you provided,
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Classification of Stocks
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS