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. At what amount should the Land be recorded in the books of Orange? *
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. At what amount should the Land be recorded in the books of Orange? *
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 1MC
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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. 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 P2,100,000. At what amount
should the Land be recorded in the books of Orange? *](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd12f395d-1c1e-462a-b3ff-33a497a039ac%2Fbd1a7fb9-0f23-4eff-8bf9-6ed17adaa45b%2Frznfux_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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. At what amount
should the Land be recorded in the books of Orange? *
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