ERGO Corp. has ordinary share capital with par value of ₱50, and preference share capital with par value of ₱100 per share. Below are the related transactions for the year: Issued 2,000 ordinary shares for ₱70 per share Issued 3,000 preference shares for ₱150 per share Received subscriptions for 800 ordinary shares at ₱80 per share Received subscriptions for 300 preference shares at ₱200 per share, of which ₱40,000 is subscriptions receivable The Share Premium account has no balance at the start of the year. How much is the balance of the Share Premium account at the end of the year?
ERGO Corp. has ordinary share capital with par value of ₱50, and preference share capital with par value of ₱100 per share. Below are the related transactions for the year: Issued 2,000 ordinary shares for ₱70 per share Issued 3,000 preference shares for ₱150 per share Received subscriptions for 800 ordinary shares at ₱80 per share Received subscriptions for 300 preference shares at ₱200 per share, of which ₱40,000 is subscriptions receivable The Share Premium account has no balance at the start of the year. How much is the balance of the Share Premium account at the end of the year?
Chapter1: Financial Statements And Business Decisions
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ERGO Corp. has ordinary share capital with par value of ₱50, and
- Issued 2,000 ordinary shares for ₱70 per share
- Issued 3,000 preference shares for ₱150 per share
- Received subscriptions for 800 ordinary shares at ₱80 per share
- Received subscriptions for 300 preference shares at ₱200 per share, of which ₱40,000 is subscriptions receivable
The Share Premium account has no balance at the start of the year.
How much is the balance of the Share Premium account at the end of the year?
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