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4. What would be the effect of the transaction on the total Share Premium FIARES RE account? a. PO. c. P 2,400. b. d. P 3,600. P 1,200.

4. What would be the effect of the transaction on the total Share Premium FIARES RE account? a. PO. c. P 2,400. b. d. P 3,600. P 1,200.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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srit 101 zinemaniu mumilaim any ritiw beilgmoo nois100102 HT istiqs) sede Item No. 4 is based on the following information: 25760 Luningning Corporation sold for cash 400 preference shares with a par value of P 50 per share at P56 per share. Also, 600 ordinary shares with no par value but with stated value of P 100 per share were sold for P 102 per share. 4. What would be the effect of the transaction on the total Share Premium account? a. PO. C. c. P 2,400. b. P 1,200. d. P 3,600.
Transcribed Image Text:srit 101 zinemaniu mumilaim any ritiw beilgmoo nois100102 HT istiqs) sede Item No. 4 is based on the following information: 25760 Luningning Corporation sold for cash 400 preference shares with a par value of P 50 per share at P56 per share. Also, 600 ordinary shares with no par value but with stated value of P 100 per share were sold for P 102 per share. 4. What would be the effect of the transaction on the total Share Premium account? a. PO. C. c. P 2,400. b. P 1,200. d. P 3,600.
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