| CHAPTER 7 | ACCOUNTING FOR CAPITAL STOCK TRANSACTIONS CHAPTER 7 - TEST 3 ACCOUNTING FOR CAPITAL STOCK TRANSACTIONS Name Date Course and Section Score mary The DWMR Corporation was incorporated on March 1, 2026 with the following .ock authorized share capital: Ordinary share, no-par, 20,000 shares ing Preference share, P100 par, 5,000 shares During the month, the following selected transactions took place: Mar. 1 ; 1,000 preference shares were subscribed at P100 per share. The subscribers paid 30% of their subscriptions. ed. 4 Issued 10,000 ordinary shares in exchange for the following: Cash P25,000 25 ork Building valued at 80,000 105 6 : Stock certificate for 30 preference shares was issued to the lawyer in ors' payment for P3,000 legal work. 3k 21 ; The preference subscribers paid their subscriptions in full, certificates 0% were issued 30 ; 2,000 ordinary shares were sold for cash at P120 per share. Requirement : 240 709 k Journalize the foregoing transactions using Memorandum Entry Method