. Akea Corp., reports this journal entry on May 15, 2020: Cash 75,000 Ordinary Share Capital 63,000 Paid in Capital in Excess of Par 12,000 The explanation reads. “Issued ordinary share capital for P50 per share”. What is the par value per share for this transaction?

. Akea Corp., reports this journal entry on May 15, 2020: Cash 75,000 Ordinary Share Capital 63,000 Paid in Capital in Excess of Par 12,000 The explanation reads. “Issued ordinary share capital for P50 per share”. What is the par value per share for this transaction?

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Question

2. Akea Corp., reports this journal entry on May 15, 2020:

Cash 75,000

Ordinary Share Capital 63,000

Paid in Capital in Excess of Par 12,000

The explanation reads. “Issued ordinary share capital for P50 per share”.

What is the par value per share for this transaction?

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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