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  • 10.3.2.4 Elaborate 10.2 Issuance of Ordinary Shares

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    MARY ROSE
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    The document discusses the issuance of 25,000 ordinary shares by the Delgado Software Corporation. It provides the accounting entries required to record the issuance under three assumptions: 1) the shares have a P5 par value and were sold for P20 per share, 2) the shares are no-par but have a stated value of P10 with a total issue price of P850,000, and 3) the shares are no-par with no stated value and were issued at P25 per share.

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    10.3.2.4 Elaborate 10.2 Issuance of Ordinary Shares (1)

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    The document discusses the issuance of 25,000 ordinary shares by the Delgado Software Corporation. It provides the accounting entries required to record the issuance under three assumptions: 1) the shares have a P5 par value and were sold for P20 per share, 2) the shares are no-par but have a stated value of P10 with a total issue price of P850,000, and 3) the shares are no-par with no stated value and were issued at P25 per share.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    9 views3 pages

    10.3.2.4 Elaborate 10.2 Issuance of Ordinary Shares

    Uploaded by

    MARY ROSE
    The document discusses the issuance of 25,000 ordinary shares by the Delgado Software Corporation. It provides the accounting entries required to record the issuance under three assumptions: 1) the shares have a P5 par value and were sold for P20 per share, 2) the shares are no-par but have a stated value of P10 with a total issue price of P850,000, and 3) the shares are no-par with no stated value and were issued at P25 per share.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 3

    Elaborate 10.

    2 - Issuance of Ordinary Shares

    The Delgado Software Corporation is authorized to issue 80,000


    ordinary shares. During the current year, the corporation issued
    25,000 shares.
    Required:
    Prepare the required entry to record the issuance of ordinary shares
    under each of the following assumptions:
    The shares have a P5 par value and were sold for P20 per share.
    The shares are no-par but have a stated value of P10. The total issue
    priceshares
    The was P850,000.
    are no-par and have no stated value. They were issued at
    P25 per share.
    Date Account Title P.R.
    20__
    The shares have a P5 par value and were sold for P20 per share.
    Cash
    Ordinary Shares
    Share Premium

    The shares are no-par but have a stated value of P10. The total issue price wa
    P850,000.
    Cash
    Ordinary Shares
    Share Premium
    OR
    Cash
    Ordinary Shares

    The shares are no-par and have no stated value. They were issued at P25 per
    Cash
    Ordinary Shares
    POINTS
    Debit Credit 5
    1
    0 per share.
    ₱500,000 2
    ₱125,000 1
    375,000 1

    The total issue price was

    ₱850,000 2
    ₱250,000 1
    600,000 1

    ₱850,000
    ₱850,000

    y were issued at P25 per share.


    ₱625,000 2
    ₱625,000 1
    17

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