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How much is credited to share warrants

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Problem 1: Metropolitan Bank and Trust Company issues 1,000 shares of P 100 par value redeemable preference shares at P 130 per share. Each preference share includes one detachable warrant that entitles the holder to purchase one share of P 50 par ordinary shares at P 60 per share. At that time, the market values are as follows: Preference share without warrant attached - P 126; warrant - P 4; Ordinary share - P 75. Subsequently, all of the warrants were exercised. On the date of issuance, how much is credited to share warrants?

Reference no: EM132736733

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