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92. Ashe Company was organized on January 1, 2013 with authorized capital of 100,000 shares of P200 par value. *

92. Ashe Company was organized on January 1, 2013 with authorized capital of 100,000 shares of P200 par value. *

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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92. Ashe Company was organized on January 1, 2013 with authorized capital of 100,000 shares of P200 par value. * January 10 Issued 25,000 shares at P220 a share March 25 Issued 1,000 shares for legal services when the fair value was P240 a share September 30 Issued 5,000 shares for a tract of land when the fair value was P260 a share What amount should be reported for share premium? O A. 500,000 O B. 540,000 O C. 800,000 O D. 840,000
Transcribed Image Text:92. Ashe Company was organized on January 1, 2013 with authorized capital of 100,000 shares of P200 par value. * January 10 Issued 25,000 shares at P220 a share March 25 Issued 1,000 shares for legal services when the fair value was P240 a share September 30 Issued 5,000 shares for a tract of land when the fair value was P260 a share What amount should be reported for share premium? O A. 500,000 O B. 540,000 O C. 800,000 O D. 840,000
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