Par Value of shares issued – P 3,000,000
Fair market value of land received by the corporation in payment – P 2,750,000
a. Journal entry at the time of issue, recognizing the deficiency in the payment received for the
shares?
Journal entry for the collection on the deficiency?
b. Journal entry at the time of issue, not recognizing the deficiency in the payment received for the
shares?
Journal entry to recognize the deficiency if successfully challenged by a creditor or minority
stockholders?
Fair market value of land received by the corporation in payment – P 2,750,000
a. Journal entry at the time of issue, recognizing the deficiency in the payment received for the
shares?
Journal entry for the collection on the deficiency?
b. Journal entry at the time of issue, not recognizing the deficiency in the payment received for the
shares?
Journal entry to recognize the deficiency if successfully challenged by a creditor or minority
stockholders?
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