On January 2 20x5 The Lyon Corporation Issued A Share Subscription To Employees A Total Of 60 000 Shares Are Subscrib 1 (26.5 KiB) Viewed 20 times
On January 2 20x5 The Lyon Corporation Issued A Share Subscription To Employees A Total Of 60 000 Shares Are Subscrib 2 (26.5 KiB) Viewed 20 times
On January 2, 20x5, the Lyon Corporation issued a share subscription to employees. A total of 60,000 shares are subscribed at $4.20 per share. A total of 10% of the subscription price is received on this date. During the year, through payroll deductions, a total of 58,000 shares are fully paid and these shares are issued to employees at the end of the year. Required - Prepare all journal entries for the year relating to the share purchase plan. Assume that any deposits on shares subscriptions forfeited are fully refundable. b) How would your answer to (a) change if the deposits on shares subscriptions forfeited were non-refundable.
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