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GMA Corp. has 500,000 shares authorized and has the following information at the end of its first year of operation: Share Capital, ₱50 par value: ₱754,000 Subscribed Share Capital: ₱343,000 Subscription Receivable: ₱155,000 Share Premium: ₱85,000 How many shares have been issued?

GMA Corp. has 500,000 shares authorized and has the following information at the end of its first year of operation: Share Capital, ₱50 par value: ₱754,000 Subscribed Share Capital: ₱343,000 Subscription Receivable: ₱155,000 Share Premium: ₱85,000 How many shares have been issued?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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GMA Corp. has 500,000 shares authorized and has the following information at the end of its first year of operation:

  • Share Capital, ₱50 par value: ₱754,000
  • Subscribed Share Capital: ₱343,000
  • Subscription Receivable: ₱155,000
  • Share Premium: ₱85,000

How many shares have been issued?

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