GMA Corp. received a charter authorizing 120,000 ordinary shares at ₱15 par value per share. During the first year of operations, 21,000 shares were issued at ₱25 per share and 600 shares were issued in exchange for equipment with a fair value of ₱21,600. How much is the balance of the Share Premium account?
GMA Corp. received a charter authorizing 120,000 ordinary shares at ₱15 par value per share. During the first year of operations, 21,000 shares were issued at ₱25 per share and 600 shares were issued in exchange for equipment with a fair value of ₱21,600. How much is the balance of the Share Premium account?
Intermediate Accounting: Reporting And Analysis
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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
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Problem 4MC: Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys...
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GMA Corp. received a charter authorizing 120,000 ordinary shares at ₱15 par value per share. During the first year of operations, 21,000 shares were issued at ₱25 per share and 600 shares were issued in exchange for equipment with a fair value of ₱21,600. How much is the balance of the Share Premium account?
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