she Company was organized on January 1, 2015 with authorized share capital of 100,000 shares of P20 par value. During the year, the entity had the following transactions affecting shareholders’ equity: January 10: Issued 25,000 shares at P22 a share. March 25 : Issued 1,000 shares for legal services when the fair value was P24 a share. September 30: Issued 5,000 shares for a tract of land when the fair value was P26 a share. What amount should be reported as share premium on December 31, 2015
she Company was organized on January 1, 2015 with authorized share capital of 100,000 shares of P20 par value. During the year, the entity had the following transactions affecting shareholders’ equity: January 10: Issued 25,000 shares at P22 a share. March 25 : Issued 1,000 shares for legal services when the fair value was P24 a share. September 30: Issued 5,000 shares for a tract of land when the fair value was P26 a share. What amount should be reported as share premium on December 31, 2015
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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she Company was organized on January 1, 2015 with authorized share capital of 100,000 shares of P20 par
value. During the year, the entity had the following transactions affecting shareholders’ equity:
January 10: Issued 25,000 shares at P22 a share.
March 25 : Issued 1,000 shares for legal services when the fair value was P24 a share.
September 30: Issued 5,000 shares for a tract of land when the fair value was P26 a share.
What amount should be reported as share premium on December 31, 2015?
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