Initial capitalization allowed for 20000 par value shares


Question - "Initial capitalization allowed for 20,000 par value shares. Robb, his lawyer and his wife were named as Directors of the Corporation. Robb contributed $10,000 in exchange for 10,000 shares"

How is this translated into journal entries?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Initial capitalization allowed for 20000 par value shares
Reference No:- TGS02853307

Now Priced at $20 (50% Discount)

Recommended (95%)

Rated (4.7/5)