a 5,000 delinquent shares with P15 par value was originally subscribed at P20 per share....
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Accounting
a 5,000 delinquent shares with P15 par value was originally subscribed at P20 per share. at the date of subscription, 65% payment has already been made. expenses incurred for the auction amounts to P6,500. in case of no highest bidder, the journal entry to record the issuANCE OF THE SHARES TO THE CORPORATION INCLUDES:
a. debit of 35,000 to treasury shares
b. credit of 65,000 to treasury shares
c. debit of 41,500 to treasury shares
d. credit of P52,500 to share capital
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