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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9b2efc87-79a1-46c3-82cd-03aa0e5ee75b%2F565a4ff6-3f8e-4e55-81c0-2ef6bbea4611%2Fl3qw5o9_processed.jpeg&w=3840&q=75)
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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