BFAR Corporation issued 20,000 ordinary shares receiving land that costs P200,000 and has a fair value of P500,000. If the share capital has no par value but with stated value of P20. Compute the legal capital.

BFAR Corporation issued 20,000 ordinary shares receiving land that costs P200,000 and has a fair value of P500,000. If the share capital has no par value but with stated value of P20. Compute the legal capital.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 1MC

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