The League Corporation is authorized to issue 100,000 shares of…

Question Answered step-by-step The League Corporation is authorized to issue 100,000 shares of… The League Corporation is authorized to issue 100,000 shares of Ordinary Share Capital with a par value of   P 20.  The following transactions took place in relation to the share capital: May  2Issued 25,000 shares for cash at par value.5Issued 5,000 shares to Atty. Fernan for services in organizing the corporation.  The value of the services was P 120,000.18Issued 4,000 shares to corporate promoters.  Each ordinary share is selling at P 30 on this date.25Issued 20,000 shares in exchange for Land valued at P 600,000.30Issued for cash 10,000 shares at P 23 per share  Prepare journal entries to record the above transactions including authorized capital dated May 2, using the memorandum method.please answer it in best way but do not take help of other tutoring sites or google thnku Accounting Business Financial Accounting Share QuestionEmailCopy link Comments (0)