ABC Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10 par value ordinary share. During 2020, ABC had the following transactions: Jan. 12- Issued 80,000 shares for P12 per share June 23- Issued 4,000 shares for legal services when the market price was P14 per share What should be the amount of share premium at December 31, 2020?

ABC Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10 par value ordinary share. During 2020, ABC had the following transactions: Jan. 12- Issued 80,000 shares for P12 per share June 23- Issued 4,000 shares for legal services when the market price was P14 per share What should be the amount of share premium at December 31, 2020?

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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