On January, 2019, Chicosci Corporation was incorporated with authorized Ordinary share capital of P 3,000,000, divided into 100,000 shares with a par value per share of P 30. In February, 30,000 shares were issued for P 40 per share. In July, 20,000 shares were subscribed at a price of P 45 per share. As of December 31, 2019, one half of the subscription has been collected. What amount will appear on the December 31, 2019 Statement of financial position as Ordinary Share Capital?
On January, 2019, Chicosci Corporation was incorporated with authorized Ordinary share capital of P 3,000,000, divided into 100,000 shares with a par value per share of P 30. In February, 30,000 shares were issued for P 40 per share. In July, 20,000 shares were subscribed at a price of P 45 per share. As of December 31, 2019, one half of the subscription has been collected. What amount will appear on the December 31, 2019 Statement of financial position as Ordinary Share Capital?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January, 2019, Chicosci Corporation was incorporated with authorized Ordinary share capital of P 3,000,000, divided into 100,000 shares with a par value per share of P 30. In February, 30,000 shares were issued for P 40 per share. In July, 20,000 shares were subscribed at a price of P 45 per share. As of December 31, 2019, one half of the subscription has been collected. What amount will appear on the December 31, 2019
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