Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 17, 2024

On October 17, ORANGE Company issued 15,000 shares of its P100 par ordinary share in acquiring a land that has a fair value of 1,700,000

On October 17, ORANGE Company issued 15,000 shares of its P100 par ordinary share in acquiring a land that has a fair value of 1,700,000 during that date. The ordinary share is actively selling at P120 per share. On December 31, the land has a fair value of P2,100,000. At what amount should the Land be recorded in the books of Orange? *

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

13th edition

978-1-119-4110, 1119411483, 9781119411017, 978-1119411482

Students also viewed these Accounting questions

Question

Prove Property (f) of Proposition 3.2 directly using the definition of conditional probability (Definition 3.1).

Answered: 1 week ago

Question

★★★★★

In 2009, Tru-Delite Frozen Desserts, Inc., instituted a quality improvement program. At the end of 2010, the management of the corporation requested a report to show the amount saved by the measures...

Answered: 1 week ago

Question

★★★★★

Motorway Development corporation builds and maintains highway across the country. They have an outstanding issue of RM 100 - par - value bonds with an 8% coupon rate. The issue pays interest annually...

Answered: 1 week ago

Question

★★★★★

Given the answers to Problems 1, 2, and 4, what is SodaFizzs WACC when the CAPM is used to calculate SodaFizzs equity cost of capital? 1. SodaFizz has debt outstanding that has a market value of $3...

Answered: 1 week ago

Question

★★★★★

An open-end fund has a net asset value of $11.20 per share. It is sold with a front-end load of 5%. What is the offering price? (Round your answer to 2 decimal places.) Offering price

Answered: 1 week ago

Question

★★★★★

CIRCUIT #2 5. Once again, put three resistors and a battery on the work area. Change each of the resistances to the values in the table below. Use a battery voltage of 12 volts. Build the circuit...

Answered: 1 week ago

Question

★★★★★

Three steel plates are joined together using two rivets that have a diameter of 16 mm. The plates have a width L of 8.0 cm. The central plate has a thickness of 2.0 cm and the other two plates have a...

Answered: 1 week ago

Question

★★★★★

February 1 - Brady and Manning decide to start up a partnership. Brady brings in $10 000 cash and equipment costing $60 000, with $17 000 in the accumulated depreciation account. The fair market...

Answered: 1 week ago

Question

★★★★★

Identify four project proposals based on PepsiCo's value proposition. These value enhancing project ideas must fit PepsiCo's strategy and increase wealth for its stakeholders. These ideas should play...

Answered: 1 week ago

Question

★★★★★

Problem 3: Inputs: 065 (measured from vertical) L = 0.75 in (measured horizontally) L = 8 in T= 110 lbh A torque of T is required to loosen the bolt at A. What force P must be exerted to loosen the...

Answered: 1 week ago

Previous Question Next Question