24. How much is the Legal Capital? 25.By how much is the total contributed capital?

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A: Solution: Legal capital  = Par value of ordinary shares + Par value of preferred shares

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A: SOLUTION- JOURNAL ENTRIES ARE RECORDS OF FINANCIAL TRANSACTIONS FLOWING IN AND OUT OF YOUR BUSINESS.

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Q: he year-end balance sheet of Social Systems, Inc. includes the following stockholders’ equity…

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.