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