Reference no: EM132768770
Question - Kalabasa Company is Authorized to Issue 100,000 shares of 10 par value shares
20,000 shares of Cash for P15 peso per share
30,000 shares for a Land worth 450,000. The Fair Value of the Shares is P12 per share
10,000 shares in exchange for services with a fair value 120,000.
Required -
1. How much is the Share Premium from issuance of the 20,000 shares exchanged for Cash?
2. How much is the Share Premium from the issuance of the 30,000 shares.
3. Assuming the Land has no Fair Value, how much is the Share Premium from the issuance of the 30,000 shares?
4. Assuming the Land has no Fair Value and the Shares have no Fair Value, HOW MUCH IS THE Share Premium from the Issuance of Shares?
5. How much is the share premium from the issuance of the 10,000 shares?
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