On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share capital and 2,000 shares of its P10 par preference share capital for a lump sum of P40,000. At this date, ordinary share is selling for P18 per share and the preference share for P13.50 per share. How much is allocated to preference shares? Your anSwer

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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How much is allocated to preference shares?

On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10
2 points
par ordinary share capital and 2,000 shares of its P10 par preference
share capital for a lump sum of P40,000. At this date, ordinary share is
selling for P18 per share and the preference share for P13.50 per share.
How much is allocated to preference shares?
Your answer
Transcribed Image Text:On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share capital and 2,000 shares of its P10 par preference share capital for a lump sum of P40,000. At this date, ordinary share is selling for P18 per share and the preference share for P13.50 per share. How much is allocated to preference shares? Your answer
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