On June 1, Jungkook Corporation issued 8,000 shares of its P100 par ordinary share capital to Jimin for a building. The shares were actively traded in the stock exchange at P150 per share. The Jimin's last property tax bill, the land had an assessed value of P1,640,000. What is the increase in the share premium account of Jungkook Company as a result of the foregoing issuance of shares? * . 600,000 O 640,000 O 440,000 O 400,000

On June 1, Jungkook Corporation issued 8,000 shares of its P100 par ordinary share capital to Jimin for a building. The shares were actively traded in the stock exchange at P150 per share. The Jimin's last property tax bill, the land had an assessed value of P1,640,000. What is the increase in the share premium account of Jungkook Company as a result of the foregoing issuance of shares? * . 600,000 O 640,000 O 440,000 O 400,000

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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un.3
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Explain IAS39
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