35.On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000 shares of its P40 par value convertible preference share for a total consideration of P160,000. At this date, the company's ordinary shares were selling at P36 per share, and the convertible preference shares were selling at P54 per share. Determine the amount to be credited to share premium for the convertible preference share. 36. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year the company reissued the shares at P15 per share. If the fair value of the shares was P13 at the date of donation, what amount was credited to the donated capital account when the shares were reissued?
35.On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000 shares of its P40 par value convertible preference share for a total consideration of P160,000. At this date, the company's ordinary shares were selling at P36 per share, and the convertible preference shares were selling at P54 per share. Determine the amount to be credited to share premium for the convertible preference share. 36. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year the company reissued the shares at P15 per share. If the fair value of the shares was P13 at the date of donation, what amount was credited to the donated capital account when the shares were reissued?
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
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 5MC
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35.On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000 shares of its P40 par value
convertible preference share for a total consideration of P160,000. At this date, the company's ordinary shares were selling at P36 per share, and the convertible preference shares were selling at P54 per share. Determine the amount to be credited to share premium for the convertible preference share.
36. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year the company reissued the shares at P15 per share. If the fair value of the shares was P13 at the date of donation, what amount was credited to the donated capital
account when the shares were reissued?
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