ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P 20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock exchange. The par value of the ordinary share is P 10 and the preference shares has no par & no stated value. How much is credited in the Ordinary Share Capital Account upon issuance of the shares?
ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P 20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock exchange. The par value of the ordinary share is P 10 and the preference shares has no par & no stated value. How much is credited in the Ordinary Share Capital Account upon issuance of the shares?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P
20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock
exchange. The par value of the ordinary share is P 10 and the preference shares has no par &
no stated value.
How much is credited in the Ordinary Share Capital Account upon issuance of the shares?
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