Blue Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2022, the first year of the corporation’s existence: Sold 5,000 ordinary shares for P18 per share. Issued 5,000 ordinary shares in exchange for a patent valued at P100,000. At the end of the Blue’s first year, total contributed capital amounted to?

Blue Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2022, the first year of the corporation’s existence: Sold 5,000 ordinary shares for P18 per share. Issued 5,000 ordinary shares in exchange for a patent valued at P100,000. At the end of the Blue’s first year, total contributed capital amounted to?

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 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...

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