Problem 20-13 (AICPA Adapted) Remington Company iued 10,000 ordinary shares P200 par valoe and 20,000 preference shares with P200 par value fora total oonaideration of PRO00.000 At the date of isur, the ondinary share was selling for P0 and the preference share was selling for Pzto I What amount should be reported s ahare premium from the issuance of preference shares L800,000 1,000.000 e 800,000 d. 2What amount should be reported ashare premium from the insuance of ordinary shares? 2000.000 &1000,000 SL200,000
Problem 20-13 (AICPA Adapted) Remington Company iued 10,000 ordinary shares P200 par valoe and 20,000 preference shares with P200 par value fora total oonaideration of PRO00.000 At the date of isur, the ondinary share was selling for P0 and the preference share was selling for Pzto I What amount should be reported s ahare premium from the issuance of preference shares L800,000 1,000.000 e 800,000 d. 2What amount should be reported ashare premium from the insuance of ordinary shares? 2000.000 &1000,000 SL200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Problem 13
Transcribed Image Text:Problem 20-13 (AICPA Adapted)
Remington Company insued 10,000 ordinary shares with
P200 par value and 20,000 preference shares with P200 par
value for a total oonsideration of P8,000,000.
At the date of issue, the ordinary share was selling for P360
and the preference share was selling for P270,
1 What amount should be reported ns share premium from
the issuance of preference shares?
a 1800,000
b. 1.000,000
800,000
0.
C.
2 What amount should be reported as share premium from
the insuance of ordinary shares?
a. 2000,000
h 1.00,000
C. 1,200,000
d.
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