show solution Venus Company issued 20,00Oshares of its P70 par value ordinaryshares and 8,000 shares of its P80par value preference share capital fora total of P1,8O0,000. At this date,the company's ordinary shares wereselling at P80 per share and thepreference was selling at P100 pershare. (1) What amount of theproceeds should be allocated to thepreference shares?

Market value of Ordinary shares = No. of Ordinary shares x Market value per share = 20000 shares x…

Venus Company issued 20,00O shares of its P70 par value ordinary shares and 8,000 shares of its P80 par value preference share capital for a total of P1,800,000. At this date, the company's ordinary shares were selling at P80 per share and the preference was selling at P100 per share. (1) What amount of the proceeds should be allocated to the preference shares? *

Venus Company issued 20,00O shares of its P70 par value ordinary shares and 8,000 shares of its P80 par value preference share capital for a total of P1,800,000. At this date, the company's ordinary shares were selling at P80 per share and the preference was selling at P100 per share. (1) What amount of the proceeds should be allocated to the preference shares? *

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...

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