When collectability is reasonably assured, the excess of the subscription price over the stated value of the no-par subscribed share capital shall be recorded as a. No share capital b. Share premium when the subscription is recorded c. Share premium when the subscription is collected d. Share premium when the share capital is issued

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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When collectability is reasonably assured, the excess of the subscription price over the stated
value of the no-par subscribed share capital shall be recorded as
a. No share capital
b. Share premium when the subscription is recorded
c. Share premium when the subscription is collected
d. Share premium when the share capital is issued

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