Question
Joyce Company issued 1,000 shares of its P50 par value ordinary share capital in exchange for land with a book value of P40,000 and fair
Joyce Company issued 1,000 shares of its P50 par value ordinary share capital in
exchange for land with a book value of P40,000 and fair value of P120,000.
1. What is the total increase in ordinary share premium?
2. How much should be credited to Ordinary Share Capital account?
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
