Zermatt Corporation began operation on April 1 by issuing 60,000 shares of CHF5 par value ordinary shares

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Zermatt Corporation began operation on April 1 by issuing 60,000 shares of CHF5 par value ordinary shares for cash at CHF13 per share. On April 19, it issued 2,000 shares of ordinary shares to attorneys in settlement of their bill of CHF27,500 for organization costs. Journalize both issuances, assuming the shares are not publicly traded.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Related Book For  answer-question

Financial accounting

ISBN: 978-1118285909

IFRS Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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