On October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a land that has a fair value of ₱ 1,700,000 during that date. The ordinary share is actively selling at ₱120 per share. On December 31, the land has a fair value of ₱2,100,000. What is the amount of share premium to be credited on the issuance of shares? On October 17, ORANGE Company issued 15,000 shares of its P100 parordinary share in acquiring a land that has a fair value of P 1,700,000during that date. The ordinary share is actively selling at P120 per share.On December 31, the land has a fair value of P2,100,000. What is theamount of share premium to be credited on the issuance of shares? *B 500,000O B 200,000O B 600,000O P 300,000

Given: Number of shares issued 15,000 shares par value per share 100 selling price per share 120…

Answered: On October 17, ORANGE Company issued…

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...

See similar textbooks

Related questions

Question

On October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a land that has a fair value of ₱ 1,700,000 during that date. The ordinary share is actively selling at ₱120 per share. On December 31, the land has a fair value of ₱2,100,000. What is the amount of share premium to be credited on the issuance of shares?

On October 17, ORANGE Company issued 15,000 shares of its P100 par
ordinary share in acquiring a land that has a fair value of P 1,700,000
during that date. The ordinary share is actively selling at P120 per share.
On December 31, the land has a fair value of P2,100,000. What is the
amount of share premium to be credited on the issuance of shares? *
B 500,000
O B 200,000
O B 600,000
O P 300,000

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions