BFAR Corp. has the following information in its shareholders' equity: . Preference Share Capital, P100 par value: P2,000,000 . Share Premium - Preference: P100,000 • Share Dividend Distributable - Preference: P350,000 Ordinary Share Capital, P10 par: P50,000 • Share Premium - Ordinary: $40,000 . Subscribed Share Capital - Ordinary: P150,000 . Subscriptions Receivable - Ordinary: P23,000 . Accumulated Profits: P300,000 How much is the legal capital? .

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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BFAR Corp. has the following information in its shareholders' equity:
. Preference Share Capital, P100 par value: P2,000,000
. Share Premium - Preference: P100,000
• Share Dividend Distributable - Preference: P350,000
Ordinary Share Capital, P10 par: P50,000
Share Premium - Ordinary: P40,000
. Subscribed Share Capital - Ordinary: P150,000
• Subscriptions Receivable - Ordinary: $23,000
. Accumulated Profits: P300,000
How much is the legal capital?
.
.
Transcribed Image Text:BFAR Corp. has the following information in its shareholders' equity: . Preference Share Capital, P100 par value: P2,000,000 . Share Premium - Preference: P100,000 • Share Dividend Distributable - Preference: P350,000 Ordinary Share Capital, P10 par: P50,000 Share Premium - Ordinary: P40,000 . Subscribed Share Capital - Ordinary: P150,000 • Subscriptions Receivable - Ordinary: $23,000 . Accumulated Profits: P300,000 How much is the legal capital? . .
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