Black Bulls Corp. Issued 10,000 shares of its P10 par value shares for a building. The building has a fair value of P500,000 and a book value of P400,000. Black Bulls’ ordinary share is currently selling for P45 per share. Black Bulls Corporation should record the building at a) P100,000 b) P450,000 c) P500,000 d) P400,000
Black Bulls Corp. Issued 10,000 shares of its P10 par value shares for a building. The building has a fair value of P500,000 and a book value of P400,000. Black Bulls’ ordinary share is currently selling for P45 per share. Black Bulls Corporation should record the building at a) P100,000 b) P450,000 c) P500,000 d) P400,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 1MC
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Black Bulls Corp. Issued 10,000 shares of its P10 par value shares for a building. The building has a fair value of P500,000 and a book value of P400,000. Black Bulls’ ordinary share is currently selling for P45 per share. Black Bulls Corporation should record the building at
a) P100,000 b) P450,000 c) P500,000 d) P400,000
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