What would be shown as ordinary shares capital

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Point 1: Dallas Maverics Corporation issued 3,000 ordinary shares for cash at par value and another 2,000 ordinary shares to Atty. Thompson during incorporation as payment for legal fees amounting to P200,000. Dallas also issued 4,000 shares in exchange for an office equipment with a book value of P265,000 but has a fair market value ofP289,000. The corporation also received subscription for 2,000 shares issued at P76 per share.

Question 1: If, after these transaction, Subscribed Ordinary shares has a balance of P130,000, what would be shown as Ordinary Shares Capital in the Shareholders Equity of the Statement of Financial position.

Reference no: EM132484830

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