following authorized capital: Sousa Caterers, Inc. was organized on May 13, 2019 and the articles stipulated the Subscription of Shares a 4,500 shares of preference shares, P110 par value b. 42,000...


following authorized capital:<br>Sousa Caterers, Inc. was organized on May 13, 2019 and the articles stipulated the<br>Subscription of Shares<br>a 4,500 shares of preference shares, P110 par value<br>b. 42,000 shares of ordinary shares, P30 par value<br>Sousa Caterers, Inc. completed the following transactions during its first year of<br>operations:<br>8 Received subscriptions to 14,000 ordinary shares at P30 per share;<br>collected 65% of the subscription price.<br>May<br>June 7 Subscribers to 14,000 ordinary shares paid an additional 20% of the<br>subscription price.<br>July 6 Subscribers to 14,000 ordinary shares paid an additional 15% of the<br>subscription price. Sousa Caterers, Inc. issued the 14,000 shares of<br>stock.<br>Received subscriptions to 4,300 ordinary shares at P32 per share;<br>collected 60% of the subscription price.<br>Sept. 14<br>Required: Prepare the journal entries.<br>SLA<br>camera<br>

Extracted text: following authorized capital: Sousa Caterers, Inc. was organized on May 13, 2019 and the articles stipulated the Subscription of Shares a 4,500 shares of preference shares, P110 par value b. 42,000 shares of ordinary shares, P30 par value Sousa Caterers, Inc. completed the following transactions during its first year of operations: 8 Received subscriptions to 14,000 ordinary shares at P30 per share; collected 65% of the subscription price. May June 7 Subscribers to 14,000 ordinary shares paid an additional 20% of the subscription price. July 6 Subscribers to 14,000 ordinary shares paid an additional 15% of the subscription price. Sousa Caterers, Inc. issued the 14,000 shares of stock. Received subscriptions to 4,300 ordinary shares at P32 per share; collected 60% of the subscription price. Sept. 14 Required: Prepare the journal entries. SLA camera

Jun 11, 2022
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