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What the total contributed capital amounted

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Question - CC Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2019, the first year of the corporation's existence: Sold 5,000 ordinary shares for P18 per share.

Issued 5,000 ordinary shares in exchange for a patent valued at P100,000. At the end of the CC's first year, what the total contributed capital amounted?

Reference no: EM132944147

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