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Prepare the journal entry to record the share issuance

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Reference no: EM132978979

Question - As part of its Employee Stock Ownership Plan, during Year 1, Anteater Co. employees purchased 10,000 shares of company stock for $8.50, the purchase price representing a 15% discount from the average stock price of $10.00 during Year 1.

Required -

1. Prepare the journal entry to record the share issuance under US GAAP.

2. Prepare the journal entry to record the share issuance under IFRS.

Reference no: EM132978979

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