has a fair value of P500,000. Mizon
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:44. Mizona Corp. issued 10,000 shares of its P1 par value ordinary shares
for a building. The building has a fair value of P500,000. Mizona's ordinary
shares is currently selling for P45 per share. Mizona Corp, should record
the building at *
P10,000
P440,000
P450,000
P500,000
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