Jungkook Corporation was authorized to issue 10,000 preference shares ofP200 par value and 100,000 ordinary shares of P20 par value. Subscription for4,000 preference shares was received at P225 per share with a down payment ofP25%. The balance is payable after 60 days. What is the amount of Share Premium- Preference recognized by Jungkook upon receipt of the preference sharesubscription? *

Jungkook Corporation was authorized to issue 10,000 preference shares ofP200 par value and 100,000 ordinary shares of P20 par value. Subscription for4,000 preference shares was received at P225 per share with a down payment ofP25%. The balance is payable after 60 days. What is the amount of Share Premium- Preference recognized by Jungkook upon receipt of the preference sharesubscription? *

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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