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What is the net amount that will be credited to hfc

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Problem 1: Horses Forever Corp. (HFC) exchanged 10,000 of its common shares for equipment with a fair value of $250,000. HFC follows IFRS. At date of issue, HFC's shares were actively trading on the stock market at $25.50. Legal costs directly associated with the share issue were $1,000. The legal fees were accounted for using the offset method. What is the net amount that will be credited to HFC's common share account because of this transaction?

Reference no: EM132667722

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