Question
The Go Forward Corporation issued 10,000 shares of its P10 par value ordinary share capital in exchange for land that has a fair value of
The Go Forward Corporation issued 10,000 shares of its P10 par value ordinary share capital in exchange for land that has a fair value of P150,000. How much should the land be recorded in the books of the corporation?
a.) P100,000
b.) P150,000
c.) P50,000
d.) P250,000
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
