PROBLEM 2. e of P100 gre Development Corporation plans to acquire a building in exchange for 5,000 preference share with a Record the above transactions assuming: 1. The market value of the building was P550,000. Debit Credit Description P.R.
PROBLEM 2. e of P100 gre Development Corporation plans to acquire a building in exchange for 5,000 preference share with a Record the above transactions assuming: 1. The market value of the building was P550,000. Debit Credit Description P.R.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![PROBLEM 2.
par value of P100.
e of Pio gre Development Corporation plans to acquire a building in exchange for 5,000 preference share with a
Record the above transactions assuming:
1. The market value of the building was P550,000.
Credit
Description
P.R.
Debit
2. The market value of the share on this date is P110 per share.
Description
P.R.
Debit
Credit
3. There is no known market value for both the building and share.
Description
P.R.
Debit
Credit
Ai SHOT ON OPPO](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61e36e77-d1d2-469f-8712-14bc6da42fa5%2F333c843f-873b-4043-b782-dd14e829f97f%2Fwl316xu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PROBLEM 2.
par value of P100.
e of Pio gre Development Corporation plans to acquire a building in exchange for 5,000 preference share with a
Record the above transactions assuming:
1. The market value of the building was P550,000.
Credit
Description
P.R.
Debit
2. The market value of the share on this date is P110 per share.
Description
P.R.
Debit
Credit
3. There is no known market value for both the building and share.
Description
P.R.
Debit
Credit
Ai SHOT ON OPPO
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