How much is credited in the preference share capital account

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ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P 20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock exchange. The par value of the ordinary share is P 10 and the preference shares has no par & no stated value.

Problem 1: How much is allocated to Ordinary shares from the total consideration received?

Problem 2: How much is allocated to Preference shares from the total consideration received?

Problem 3: How much is credited in the Ordinary Share Capital Account upon issuance of the shares?

Problem 4: How much is credited in the Preference Share Capital Account upon issuance of the shares?

Reference no: EM132828126

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