What is the correct answer? 44. Mizona Corp. issued 10,000 shares of its P1 par value ordinary sharesfor a building. The building has a fair value of P500,000. Mizona's ordinaryshares is currently selling for P45 per share. Mizona Corp, should recordthe building at *P10,000P440,000P450,000P500,000

Correct Answer is :- D P500,000

Answered: has a fair value of P500,000. Mizon

Business

Accounting

has a fair value of P500,000. Mizon

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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Mirza Corp. issued 10,000 ordinary shares with a par value of P1 for a building. The building is worth around P500,000. Mirza's common stock is now trading at P45 per share. Mirza Corp. should document the structure at *P10,000P440,000P450,000P500,000
Answer in good Accounting form. Thanks!
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