X Company issued 1,000 of its ordinary shares with P10 par for an equipment with book value of P11,000 and market value of P12,000. X's ordinary share was selling at P15 per share at the date of issuance. The amount to be credited to share premium should be a. P1,000. b. P2,000 C: P5,000. d. P-0-.

X Company issued 1,000 of its ordinary shares with P10 par for an equipment with book value of P11,000 and market value of P12,000. X's ordinary share was selling at P15 per share at the date of issuance. The amount to be credited to share premium should be a. P1,000. b. P2,000 C: P5,000. d. P-0-.

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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