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Hello John, If a company issues 1000 ordinary shares and no issue price is provided, how is value established and included in the Statement of Financial Position?
The amount shown as share capital on the SOFP is always the nominal value (regardless of the price at which they are issued).
I do explain the entries for an issue of shares in my free lectures on limited companies. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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