J. Carnation Inc. issued 15,000 shares of its P 100 par ordinary share in acquiring a land that was recently appraised at P 1,700,000. The ordinary share is actively selling at P 120 per share. What is the amount of Share Premium to be credited on the issuance of shares?
J. Carnation Inc. issued 15,000 shares of its P 100 par ordinary share in acquiring a land that was recently appraised at P 1,700,000. The ordinary share is actively selling at P 120 per share. What is the amount of Share Premium to be credited on the issuance of shares?
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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