29. The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the beginning of 2020, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P27 per share. During 2020, the company entered into the following transactions: January 4 March 19 Issued 1,300 ordinary shares at P28 per share. Exchanged 12,000 ordinary shares for a machine. The ordinary share was selling at P30 per share. Reacquired ordinary shares at P29 per share. Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called for 10% down payment with the balance due on December 1. May 9 July 19 September 4 Sold 500 of treasury shares at P32 per share. December 1 Collected the balance due on July 19 subscriptions and issued the stock certificate. How much is the total contributed capital for December 31, 2020? Your answer

29. The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the beginning of 2020, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P27 per share. During 2020, the company entered into the following transactions: January 4 March 19 Issued 1,300 ordinary shares at P28 per share. Exchanged 12,000 ordinary shares for a machine. The ordinary share was selling at P30 per share. Reacquired ordinary shares at P29 per share. Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called for 10% down payment with the balance due on December 1. May 9 July 19 September 4 Sold 500 of treasury shares at P32 per share. December 1 Collected the balance due on July 19 subscriptions and issued the stock certificate. How much is the total contributed capital for December 31, 2020? Your answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Why should you as accounting student need to understand normalization
Fill in the blanks below with the accounting principle, assumption, or related item that best completes the sentence. ________________________ and _______________________ are the two fundamental qualities that make accounting information useful for decision making. Information that helps users confirm or correct prior expectations has _________________ ___________________. ________________________ enables users to identify the real similarities and differences in economic events between companies. _________________ is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Information is _______________________ if omitting it or misstating it could influence decisions that users make on the basis of the reported financial information. The ________________________ characteristic requires that the same accounting method be used from one accounting…
Give me an introduction paragraph about AI on the Accounting Industry
Please explain with examples how travel agency business analyse and manage their accounting system into a reliable system ?
Briefly describe the two fundamental qualities of useful accounting information.
May you tell me where I can get reliable IFRS relevant to accounting changes?
Discuss critically how Tesla provide Social and Environmental Accounting?
1. How much of the needed information can be provided by accountants?
Account
are we also a user of finanacial accounting?
Explain how accounting became a "norm" (what made a system of accounting necessary) and reflect on why YOU think it is beneficial for society as a whole to have a standard method of accounting.
When do accountants consider revenue to be realized?What basic question about recording revenue in accountingrecords is answered by the realization principle?