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?

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?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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