2. LAVENDER Corporation issued 20,000 shares of its P70 par value ordinary share capital and 8,000 of its P80 par value preference share capital for a total amount of P1,800,000. At this date, the company's ordinary shares are selling at P80 per share and the preference shares are at P100 per share. What amount of the proceeds should be allocated to the preference shares? * P 800,000 B 640,000 B 400,000 9 600,000

2. LAVENDER Corporation issued 20,000 shares of its P70 par value ordinary share capital and 8,000 of its P80 par value preference share capital for a total amount of P1,800,000. At this date, the company's ordinary shares are selling at P80 per share and the preference shares are at P100 per share. What amount of the proceeds should be allocated to the preference shares? * P 800,000 B 640,000 B 400,000 9 600,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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