share premium from preference shares
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ball Company issued 50,000 shares of its P100 par ordinary and 80,000 shares
of its P50 convertible preference for a total amount of P12,500,000. At the
date of issue, the ordinary shares had a market value of P120 per share and the
preference shares are selling at P75 per share. What is the amount credited to
share premium from preference shares?
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