Kindly answer number 18 and 19
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Kindly answer number 18 and 19 only.

Transcribed Image Text:The following is a list of selected account balances taken from the December
31, 2018 general ledger of Marcelo Corporation:
K.
Accounts Payable
Accounts Receivable
Ordinary Share Capital
Share Premium - Ordinary Share
Share Premium - Preference Share
Preference Share Capital
Subscribed Preference Share
Retained Earnings
Subscription Receivable - Preference Share
P1,400,000
2,357,000
1,260,000
1,082,750
92,100
500,000
140,000
191,950
105,000
18.
What is the total contributed capital for Marcelo
Corporation at December 31, 2018?
19.
What is the total shareholders' equity of Marcelo
Corporation at December 31, 2018?
L.
World-Class Corporation's records included the following shareholders'
equity accounts:
Preference Share, P15'par; 200,000 shares authorized
Share Premium - Preference
P2,550,000
340,000
Ordinary Share, no par, P50 stated value;
100,000 shares authorized
3,000,000
20.
What was the average issue price of the preference
share?
21. How many ordinary shares were issued?
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