per share. 12. What amount should Bravo report for Ordinary Share Premium as at December 31 this year? a. P 500,000. C. P 800,000. msil b. P 540,000. d. P 840,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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per share.
9
12. What amount should Bravo report for Ordinary Share Premium as at
December 31 this year?
a. P 500,000.
c.
P 800,000.
al In
b. P 540,000.
d.
P 840,000.
P
Transcribed Image Text:per share. 9 12. What amount should Bravo report for Ordinary Share Premium as at December 31 this year? a. P 500,000. c. P 800,000. al In b. P 540,000. d. P 840,000. P
Item Nos. 12 and 13 are based on the following information:ddet01oM mat
Bravo Company was organized at the beginning of this year with
dones
authorized capital of 100,000 ordinary shares with a par value of P 200 per
hatini
share. During the year, Bravo had the following transactions affecting the
shareholders' equity:
01
Fon
Jan. 10
Issued 25,000 shares at P 220 per share.
.000
Mar. 25
Issued 1,000 shares for legal services when the fair value was P 240
per share.
dw.or
Sep. 30 Issued 5,000 shares for a tract of land when the fair value was P 260
per share.
Transcribed Image Text:Item Nos. 12 and 13 are based on the following information:ddet01oM mat Bravo Company was organized at the beginning of this year with dones authorized capital of 100,000 ordinary shares with a par value of P 200 per hatini share. During the year, Bravo had the following transactions affecting the shareholders' equity: 01 Fon Jan. 10 Issued 25,000 shares at P 220 per share. .000 Mar. 25 Issued 1,000 shares for legal services when the fair value was P 240 per share. dw.or Sep. 30 Issued 5,000 shares for a tract of land when the fair value was P 260 per share.
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