On 1 July 2019, Coastal watch Ltd issued 5 million shares at $5.00 each. All...
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On 1 July 2019, Coastal watch Ltd issued 5 million shares at $5.00 each. All the shares were subscribed for. Coastal watch Ltd incurred the following costs that were associated with the share issue: Advertising of share issue and prospectus Accounting fees associated with drafting of prospectus Legal expenses associated with share issue 10 000 4000 5000 REQUIRED Prepare the journal entries necessary to account for the issue of the shares. Maximum size for new files: 20MB, maximum attachments
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