Question 37 BFAR Corp. received a charter authorizing 120,000 ordinary shares at P15 par value per share. During the first year of operations, 22,000 shares were issued at P25 per share and 600 shares were issued in exchange for equipment with a fair value of P22,600. How much is the balance of the Share Premium account?

Question 37 BFAR Corp. received a charter authorizing 120,000 ordinary shares at P15 par value per share. During the first year of operations, 22,000 shares were issued at P25 per share and 600 shares were issued in exchange for equipment with a fair value of P22,600. How much is the balance of the Share Premium account?

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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