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 aRecord the above transactions assuming:1. The market value of the building was P550,000.CreditDescriptionP.R.Debit2. The market value of the share on this date is P110 per share.DescriptionP.R.DebitCredit3. There is no known market value for both the building and share.DescriptionP.R.DebitCreditAi SHOT ON OPPO

Assets can be bought by either paying cash or by paying consideration other than cash.

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.

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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Question

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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