What total contributed capital amounted to

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Berry Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2015, 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 P 100,000

Problem 1: At the end of the Berry's first year, total contributed capital amounted to

a. P 40,000 c. P 100,000

b. P 90,000 d. P 190,000

Reference no: EM132796983

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