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  • BuenaventuraEJ Corporation Activity

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    Anonn
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    The document contains examples of journal entries to record the issuance of shares for companies under different circumstances: 1) Shares issued at par value - debits cash and credits shares issued and paid-in capital in excess of par. 2) Shares issued at stated value - debits cash and credits stated value of shares and paid-in capital in excess of stated value. 3) Shares issued with no par or stated value - debits cash and credits shares issued. It also includes examples of entries for share premiums on ordinary and preference shares.

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    The document contains examples of journal entries to record the issuance of shares for companies under different circumstances: 1) Shares issued at par value - debits cash and credits shares issued and paid-in capital in excess of par. 2) Shares issued at stated value - debits cash and credits stated value of shares and paid-in capital in excess of stated value. 3) Shares issued with no par or stated value - debits cash and credits shares issued. It also includes examples of entries for share premiums on ordinary and preference shares.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    41 views5 pages

    BuenaventuraEJ Corporation Activity

    Uploaded by

    Anonn
    The document contains examples of journal entries to record the issuance of shares for companies under different circumstances: 1) Shares issued at par value - debits cash and credits shares issued and paid-in capital in excess of par. 2) Shares issued at stated value - debits cash and credits stated value of shares and paid-in capital in excess of stated value. 3) Shares issued with no par or stated value - debits cash and credits shares issued. It also includes examples of entries for share premiums on ordinary and preference shares.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 5

    Journal Entries

    a. Journal entries to record issuance of shares at P100 par value


    Date Journal Entry Debit Credit
    Feb-12 Cash ₱ 100,000.00
    Ordinary Shares ₱ 100,000.00

    Jul-10 Cash 630,000.00


    Ordinary Shares 500,000.00
    Paid-in Capital in excess of par 130,000.00

    Nov-05 Cash 1,050,000.00


    Ordinary Shares 750,000.00
    Paid-in Capital in excess of par 300,000.00

    b. Journal entries to record issuance of shares at P10 stated value


    Date Journal Entry Debit Credit
    Feb-12 Cash ₱ 100,000.00
    Ordinary Shares-stated value ₱ 10,000.00
    Share Premium\ 90,000.00

    Jul-10 Cash 630,000.00


    Ordinary Shares-stated value 50,000.00
    Paid-in Capital in excess of par 580,000.00

    Nov-05 Cash 1,050,000.00


    Ordinary Shares-stated value 75,000.00
    Paid-in Capital in excess of par 975,000.00

    c. Journal entries to record issuance of shares at no par or stated value


    Date Journal Entry Debit Credit
    Feb-12 Cash ₱ 100,000.00
    Ordinary Shares ₱ 100,000.00

    Jul-10 Cash 630,000.00


    Ordinary Shares 630,000.00

    Nov-05 Cash 1,050,000.00


    Ordinary Shares 1,050,000.00
    Victoria Corporation
    Date Journal Entry Debit Credit
    Jul-02 Cash ₱ 204,000.00
    Ordinary Shares ₱ 156,000.00
    Share Premium Ordinary 48,000.00

    Jul-17 Cash 89,600.00


    Preference Shares 88,000.00
    Share Premium-Preference 1,600.00

    TOTAL 293,600.00 293,600.00


    Delgado Software Corporation
    Date Journal Entry Debit Credit #1
    2019 Cash ₱ 500,000.00 20 * 25,000
    Ordinary Shares ₱ 125,000.00
    Share Premium 375,000.00
    #2
    2019 Cash 850,000.00
    Ordinary Shares 850,000.00

    Cash 850,000.00
    Ordinary Shares 250,000.00
    Share Premium 600,000.00

    2019 Cash 625,000.00 #3


    Ordinary Shares 625,000.00
    Sousa Caterers Inc.
    Date Journal Entry Debit Credit
    May-08 Subscription Receivable ₱ 420,000.00
    Subscribed Ordinary Shares ₱ 420,000.00
    -to record subscriptions

    Cash 273,000.00
    Subscription Receivable 273,000.00
    -to record initial installment

    Jun-07 Cash 84,000.00


    Subscription Receivable 84,000.00
    -to record initial installment

    Jun-06 Cash 58,800.00


    Subscription Receivable 58,800.00
    -to record initial installment

    Subscribed Ordinary Shares 14,000.00


    Ordinary Shares 14,000.00
    -to record issuance of stock certificates

    Sep-14 Subscription Receivable 137,600.00


    Subscribed Ordinary Shares 137,600.00
    -to record subscriptions

    Cash 82,560.00
    Subscription Receivable 82,560.00
    -to record initial installment

    Sep-30 Cash 55,040.00


    Subscription Receivable 55,040.00

    Subscribed Ordinary Shares 129,000.00


    Ordinary Shares 129,000.00
    -to record issuance of stock certificates

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