Kiss company received a building in exchange for the companys 6,000 ordinary shares with par value of P1,000 per share. On the date of exchange, the carrying amount of the building was P3,850,000 while its fair value was P6,400,000. The shares were trading in the stock exchange at P110 per share. 6. What would be the effect of the foregoing transaction on the total share premium? a. P400,000 increase. b. P600,000 decrease c. P6,000,000 increase d. P6,400,000 increase Nel corporations general ledger accounts among others, the following: Preference Share Capital (20,000 authorized shares, par P200) --------------P3,400,000 Preference Share Premium------------------------------------------------------------- 200,000 Ordinary Share Capital (100,000 authorized shares, value P80) ------------- 4,000,000 Ordinary Share Capital in Excess of Stated Value ------------------------------ 100,000 7. The issued preference and ordinary shares, respectively, are: a. 17,000 and 50,000 b. 17,000 and 51,250 c. 18,000 and 50,000 d. 20,000 and 100,000 Bravo Company was organized at the beginning of this year with authorized capital of 100,000 ordinary shares with a par value of P200 per share. During the year, Bravo had the following transactions affecting the shareholders equity: Jan. 10 Issued 25,000 shares at P220 per share. Mar. 25 Issued 1,000 shares for legal service when the fair value was P240 per share. Sep. 30 Issued 5,000 shares for a tract of land when the fair value was P260 per share. 12. What amount should bravo report for ordinary share premium as at December 31 this year? a. P500,000 b. 540,000 c. 800,000 d. P840,000 13. How much is the paid in share capital? a. P5M b. 6.2M c. P6.54M d. P20M