Porter Hardware Pty Ltd issues ordinary shares for $6. Which of the following is true? a. $6 per share is presented on the statement of financial position in the ordinary shares account b. Liabilities will increase as a result of this transaction c. $6 per share is the maximum selling price for these shares d. $6 in dividends will be paid to the shareholders as a result of this transaction

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Porter Hardware Pty Ltd issues ordinary shares for $6. Which of the following is true?

a. $6 per share is presented on the statement of financial position in the ordinary shares account
b. Liabilities will increase as a result of this transaction
c. $6 per share is the maximum selling price for these shares
d. $6 in dividends will be paid to the shareholders as a result of this transaction
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