Question
Quezon Company holds 10,000 shares of Leaf Company acquired at a total cost of P1,800,000. Leaf issued rights to subscribe to new shares at P150
Quezon Company holds 10,000 shares of Leaf Company acquired at a total cost of P1,800,000. Leaf issued rights to subscribe to new shares at P150 per share in the ratio of one new share for every five rights held. The share has market value of P190 and the right has market value of P10. The rights are to be accounted for separately. What is the entry to record the stock rights?
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Unclaimed Property A Reporting Process And Audit Survival Guide
Authors: Tracey L. Reid
1st Edition
0470278242, 978-0470278246
