On June 1, Jungkook Corporation issued 8,000 shares of its P100 par ordinary share capital to Jimin for a building. The shares were actively traded in the stock exchange at P150 per share. The Jimin's last property tax bill, the land had an assessed value of P1,640,000. What is the increase in the share premium account of Jungkook Company as a result of the foregoing issuance of shares? * . 600,000 O 640,000 O 440,000 O 400,000

On June 1, Jungkook Corporation issued 8,000 shares of its P100 par ordinary share capital to Jimin for a building. The shares were actively traded in the stock exchange at P150 per share. The Jimin's last property tax bill, the land had an assessed value of P1,640,000. What is the increase in the share premium account of Jungkook Company as a result of the foregoing issuance of shares? * . 600,000 O 640,000 O 440,000 O 400,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...

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