On December 1, DOS Corporation issued 1,000 shares of its ₱10 par ordinary share capital and 2,000 shares of its P10 par preference share capital for a lump sum of ₱ 40,000. At this date, ordinary share is selling for ₱18 per share and the preference share for ₱13.50 per share. How much should the “Ordinary Share Capital” account be credited? (The entry to record the issuance of the shares serves as the solution for this problem) *

On December 1, DOS Corporation issued 1,000 shares of its ₱10 par ordinary share capital and 2,000 shares of its P10 par preference share capital for a lump sum of ₱ 40,000. At this date, ordinary share is selling for ₱18 per share and the preference share for ₱13.50 per share. How much should the “Ordinary Share Capital” account be credited? (The entry to record the issuance of the shares serves as the solution for this problem) *

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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