On October 17, ORANGE Company issued 15,000 shares of its P100 par ordinary share in acquiring a land that has a fair value of P 1,700,000 during that date. The ordinary share is actively selling at P120 per share. On December 31, the land has a fair value of P2,100,00O. At what amount should the Land be recorded in the books of Orange? *

On October 17, ORANGE Company issued 15,000 shares of its P100 par ordinary share in acquiring a land that has a fair value of P 1,700,000 during that date. The ordinary share is actively selling at P120 per share. On December 31, the land has a fair value of P2,100,00O. At what amount should the Land be recorded in the books of Orange? *

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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