On October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a land that has a fair value of ₱ 1,700,000 during that date. The ordinary share is actively selling at ₱120 per share. On December 31, the land has a fair value of ₱2,100,000. What is the amount of share premium to be credited on the issuance of shares? On October 17, ORANGE Company issued 15,000 shares of its P100 parordinary share in acquiring a land that has a fair value of P 1,700,000during that date. The ordinary share is actively selling at P120 per share.On December 31, the land has a fair value of P2,100,000. What is theamount of share premium to be credited on the issuance of shares? *B 500,000O B 200,000O B 600,000O P 300,000

Given: Number of shares issued 15,000 shares par value per share 100 selling price per share 120…

Answered: On October 17, ORANGE Company issued…

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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On October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a land that has a fair value of ₱ 1,700,000 during that date. The ordinary share is actively selling at ₱120 per share. On December 31, the land has a fair value of ₱2,100,000. What is the amount of share premium to be credited on the issuance of shares?

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 P2,100,000. What is the
amount of share premium to be credited on the issuance of shares? *
B 500,000
O B 200,000
O B 600,000
O P 300,000

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