XXX Corporation was organized on January 5 , 2 0 2 3 . The authorized capital stock
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Question:
XXX Corporation was organized on January The authorized capital stock of preference consists of preference shares with par value of P per share and the authorized capital stock of ordinary consist of no par value ordinary shares with stated value of P
On December the ledger included the following balances:
Share Capital Preference P
Share Capital Ordinary P
Subscribed Share Capital Ordinary P
Subscription Receivable Ordinary P
Share Premium Preference P
Share Premium Ordinary P
Retained Earnings
Additional Information:
shares of preference were issued for brand new equipment with fair market value of P The remaining preference shares were issued for cash. There is no subscription receivable.
All ordinary shares were issued for cash. There is subscription receivable for ordinary shares.
How much is the average premium per share of preference shares and ordinary shares?
Expert Answer:
Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
