Question
The following information is provided for Mario Company: Retained earnings, P350,000 Preference shares capital, 5%, P50 par, P1,000,000 Organization expense, P25,000 Premium on ordinary shares,
The following information is provided for Mario Company:
Retained earnings, P350,000
Preference shares capital, 5%, P50 par, P1,000,000
Organization expense, P25,000
Premium on ordinary shares, P????
Share premium from recall of preference share, P10,000
Premium on bonds payable, P30,000
Ordinary shares capital, P10 par, P3,000,000
If total contributed capital is P4,060,000, what is the amount of premium on ordinary share capital for Mario Company?
ASAP, Pls
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Collaborative Auditing
Authors: James Pelletier, Yuki Matsuura
2nd Edition
0894139606, 9780894139604
