On March 1, 2020, Seokjin Corporation received subscription for 1,600 Preference Shares with P 300 par value at P 308 per share. During the month, the corporation issued 2,100 Preference shares at P 330 per share. The corporation also received subscription for 1,000 Preference shares at par and then collected the full payment from half of these subscribers after a week of the same month. If the corporation was authorized to issue 7,000 shares, how many shares are still available for subscription?

On March 1, 2020, Seokjin Corporation received subscription for 1,600 Preference Shares with P 300 par value at P 308 per share. During the month, the corporation issued 2,100 Preference shares at P 330 per share. The corporation also received subscription for 1,000 Preference shares at par and then collected the full payment from half of these subscribers after a week of the same month. If the corporation was authorized to issue 7,000 shares, how many shares are still available for subscription?

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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