ABC Corp acquired a lot by issuing 20,000 shares. Par value of shares was P10/share and quoted price per share was P90. The lot had a fair value of P2,000,000. The entry on the acquisition would be   Dr Land 2,000,000 Cr Ordinary Shares 200,000 Cr Premium on ordinary shares 1,800,000 Dr Land 2,000,000 Cr Ordinary Shares 2,000,000 Dr Land 1,800,000 Cr Ordinary Shares 200,000 Cr Premium on ordinary shares 1,600,000 Dr Land 1,800,000 Cr Ordinary Shares 1,800,000

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Q: O s28 million O $12 million O Zero

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Q: Example: Cost of acquisition n

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