Dadiangas Farmingtown Corporation is authorized by its charter to issue 10% preferenceshares at P100 par value, P1,000,000 and 15,000 ordinary shares at P100 par value.Q-13 How many 10% preference shares that the corporation is authorized to issue?7-5a) 10,000 sharesb) 15,000 sharesQ-14 How much is the Authorized Share Capital-Ordinary?a) P1,000,000b)P1,500,000a) P500b) P10,000c) 20,000 sharesd) none of theseQ-15 If Marivic Peñaflor, (not an incorporator) subscribed to 100 ordinary shares at P105but pays only P5,000, at what amount will be charged to "Share Premium "?a) P9,500b) P10,000c)P2,000,000d) none of thesec) P10,200d) P10,500Q-16 (Refer to item 16) If Marivic Peñaflor makes full payment of her subscription balance,at what amount is credited to "Share Capital" upon issuance of certificate?c) P10,500d) none of these

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Dadiangas Farmingtown Corporation is authorized by its charter to issue 10% preference shares at P100 par value, P1,000,000 and 15,000 ordinary shares at P100 par value. Q-13 How many 10% preference shares that the corporation is authorized to issue? Q-15 7-5 a) 10,000 shares b) 15,000 shares Q-14 How much is the Authorized Share Capital-Ordinary? a) P1,000,000 b) P1,500,000 a) P500 b) P10,000 c) 20,000 shares d) none of these If Marivic Peñaflor, (not an incorporator) subscribed to 100 ordinary shares at P105 but pays only P5,000, at what amount will be charged to "Share Premium "? a) P9,500 b) P10,000 c) P2,000,000 d) none of these c) P10,200 d) P10,500 Q-16 (Refer to item 16) If Marivic Peñaflor makes full payment of her subscription balance, at what amount is credited to "Share Capital" upon issuance of certificate? c) P10,500 d) none of these

Dadiangas Farmingtown Corporation is authorized by its charter to issue 10% preference shares at P100 par value, P1,000,000 and 15,000 ordinary shares at P100 par value. Q-13 How many 10% preference shares that the corporation is authorized to issue? Q-15 7-5 a) 10,000 shares b) 15,000 shares Q-14 How much is the Authorized Share Capital-Ordinary? a) P1,000,000 b) P1,500,000 a) P500 b) P10,000 c) 20,000 shares d) none of these If Marivic Peñaflor, (not an incorporator) subscribed to 100 ordinary shares at P105 but pays only P5,000, at what amount will be charged to "Share Premium "? a) P9,500 b) P10,000 c) P2,000,000 d) none of these c) P10,200 d) P10,500 Q-16 (Refer to item 16) If Marivic Peñaflor makes full payment of her subscription balance, at what amount is credited to "Share Capital" upon issuance of certificate? c) P10,500 d) none of these

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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