Determine the increase in share premium as a result of this transaction Pat issued 1,000 shares of its P5 par value ordinary shares to Nenita ascompensation for 1,000 hours of legal services performed. Nenita usuallybills P160 per hour for legal services. On the date of issuance, the shareswere trading on a public exchange at P140 per share.Determine the increase in share premium as a result of this transaction.O P140,000O P160,000P135,000O P155,000

Share premium refers to the amount that is determined from the difference shares face or par value…

Pat issued 1,000 shares of its P5 par value ordinary shares to Nenita a compensation for 1,000 hours of legal services performed. Nenita usu bills P160 per hour for legal services. On the date of issuance, the sha were trading on a public exchange at P140 per share. Determine the increase in share premium as a result of this transactie

Pat issued 1,000 shares of its P5 par value ordinary shares to Nenita a compensation for 1,000 hours of legal services performed. Nenita usu bills P160 per hour for legal services. On the date of issuance, the sha were trading on a public exchange at P140 per share. Determine the increase in share premium as a result of this transactie

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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