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12. How much is the additional paid-in capital of Mack Corporation on December 31, 2022?

12. How much is the additional paid-in capital of Mack Corporation on December 31, 2022?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ipter Corporation: Transactions After Formation On July 15, 2022, it issued 100,000 shares at P23 per share. On October 15, 2022, Mack paid the majority shareholders the sum of P800,000 and issued 50,000 shares of its ordinary share capital in exchange for land and building. The land was appraised at P1,300,000. The building had an original cost of P1,500,000, and its depreciated value is P900,000. It was appraised at P1,200,000. On October 15, 2022, the corporation purchased 5,000 shares of its ordinary share capital for P110,000. On December 15, 2022, it sold 2,000 of its treasury shares for P25 per share. 12. How much is the additional paid-in capital of Mack Corporation on December 31, 2022?
Transcribed Image Text:ipter Corporation: Transactions After Formation On July 15, 2022, it issued 100,000 shares at P23 per share. On October 15, 2022, Mack paid the majority shareholders the sum of P800,000 and issued 50,000 shares of its ordinary share capital in exchange for land and building. The land was appraised at P1,300,000. The building had an original cost of P1,500,000, and its depreciated value is P900,000. It was appraised at P1,200,000. On October 15, 2022, the corporation purchased 5,000 shares of its ordinary share capital for P110,000. On December 15, 2022, it sold 2,000 of its treasury shares for P25 per share. 12. How much is the additional paid-in capital of Mack Corporation on December 31, 2022?
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