Question: ANSWER Exercise 7 The A4 Corporation has been operating successfully for several years, It is authorized to issue 24,000 shares of no-par ordinary share and

ANSWER

Exercise 7 The A4 Corporation has been operating successfully for several years, It is authorized to issue 24,000 shares of no-par ordinary share and 6,000 shares of 8%. P100 par preference share. The Contributed Capital section of its January 1, 20*7 statement of financial position is as follows: 8% preference shares, P100 par P210,000 Ordinary shares, no par 207,000 Premium on preference shares 18,900 P435,900

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