The following information is provided for Mario Company: Retained earnings, P350,000 Preference shares capital, 5%, P50 par, P1,000,000 Organization expense, P25,000 Premium on ordinary shares, P???? Share premium from recall of preference share, P10,000 Premium on bonds payable, P30,000 Ordinary shares capital, P10 par, P3,000,000 If total contributed capital is P4,060,000, what is the amount of premium on ordinary share capital for Mario Company?
The following information is provided for Mario Company: Retained earnings, P350,000 Preference shares capital, 5%, P50 par, P1,000,000 Organization expense, P25,000 Premium on ordinary shares, P???? Share premium from recall of preference share, P10,000 Premium on bonds payable, P30,000 Ordinary shares capital, P10 par, P3,000,000 If total contributed capital is P4,060,000, what is the amount of premium on ordinary share capital for Mario Company?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is provided for Mario Company:
Preference shares capital, 5%, P50 par, P1,000,000
Organization expense, P25,000
Premium on ordinary shares, P????
Share premium from recall of
Premium on bonds payable, P30,000
Ordinary shares capital, P10 par, P3,000,000
If total contributed capital is P4,060,000, what is the amount of premium on ordinary share capital for Mario Company?
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