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What portion of the proceeds should be credited

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Question - Ribbon Company issued 10,000 of its 6% preference share; par P100, at P125 per share. Each share carried a detachable share warrant for one share of Ribbon's ordinary share, P40 par, at a specified option price of P50 per share. Immediately after issuance, the market value of Ribbon's preference share was P1,140,000 and the warrants were P60,000. What portion of the proceeds should be credited to ordinary share warrants outstanding?

Reference no: EM132792394

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