Question 1.) 10,000 non-par value share were issued at P4. The journal entry includes a credit of? A. APIC P4,000 B. Share Capital P40,000 C. Share Capital P10,000 D. Cash P40,000
Question 1.) 10,000 non-par value share were issued at P4. The
A. APIC P4,000
B. Share Capital P40,000
C. Share Capital P10,000
D. Cash P40,000
Question 2.) When Marlou Corp. was formed on January 2020, the corporate charter provided for 100,000 share of P10 par Value stock. The corporation issues 9,000 shares at a price of P23 per share. The entry to record the above transaction would include a?
A. credit Additional paid in capital for P117,000
B. credit Share Capital for P207,000
C. debit Share Capital for P90,000
D. debit Cash for P90,000
Question 3.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share. The journal entry to record the stock issuance would include a credit to Additional Paid in Capital of?
A. P45,000
B. P25.000
C. P20,000
D. P5,000
Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share . The journal entry to record the stock issuance would include a credit to Share Capital of?
A. P20,000
B. P25,000
C. P45,000
D. P5,000
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