Sassa Company owned 50,000 ordinary shares of Bond Company. These 50,000 shares were purchased by Sassa in

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Sassa Company owned 50,000 ordinary shares of Bond Company. These 50,000 shares were purchased by Sassa in 2011 for P120 per share. On August 30, 2013, Bond distributed 50,000 stock rights to Sassa. Sassa was entitled to buy one share of Bond Company for P90 cash and two of these rights. On August 30,2013, each share had a market value of P130 and each right had a market value of P20. Prepare the entry for recording the new shares acquired by exercising the rights if the rights are not accounted for separately.

Posted Date: Dec 11, 2021 02:56 PM

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Sassa Company owned 50,000 ordinary shares of Bond Company. These 50,000 shares were purchased by Sassa in

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Step 1 Journal Entries In the Books of Bond Company Date Particulars Amount Amo... View the full answer

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