Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Last September 6, 2020, Brown Co. issued 2,000 shares of its P10 par value ordinary share capital in exchange for a piece of land to
Last September 6, 2020, Brown Co. issued 2,000 shares of its P10 par value ordinary share capital in exchange for a piece of land to be held for future plant site. Brown Co.'s share capital was listed and traded at P27 per share on the same date. The land has no known market value. How much is the increase in the ordinary shares premium resulting from the exchange? PO O P20,000 O P34,000 O P40,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started