Preference share capital authorized, P100 par5,000,000Ordinary share capital authorized, P10 par2,000,000Unissued preference share capital1,800,000Unissued ordinary share capital1,000,000Subscriptions receivable, ordinary180,000Subscriptions receivable, preference190,000Preference share capital subscribed300,000Ordinary share capital subscribed220,000Treasury preference shares (700 shares atcost)680,000Share premium850,000Retained Earnings2,000,000How many ordinary shares were issued?

To solve for the ordinary shares that were issued, 1. Get the sum of ordinary shares subscribed and…

Answered: Preference share capital authorized,…

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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Similar questions

Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
How to journal entry?
Choices: a. P44.80b. P48.10c. P40.00d. P46.41
KAHITPUMASALANGOKAYNA CORPORATION provided the following data on December 31,201912% preference share capital, 20 000 shares, P100 par 2 000 00014% preference share capital, 10 000 shares, P300 par 3 000 000Ordinary share capital, 50 000 shares, P100 par 5 000 000retained earnings 2 240 000share premium 1 500 000the 12% preference share is cumulative and participating. the 14% preference share is noncumulatie and participating. dividends are in arrearsfor 3 years. the 12% preference share is conertible. each 12% preference share can be converted to 2 ordinary shares. ordinary shares outstanding on January 1,2019 were 25,000 shares. 15 000 shares were issued on July 1, while another 10 000 shares were issued on October 1. the issuance during the year was all at par. net income for the year was…
What is prefences share captial? What is the journal entries mean?
The accounts below appear in the December 31, 2022 trial balance of BFAR Corporation: Ordinary Share Capital Subscribed Ordinary Share Capital Subscription Receivable Share Premium Accumulated Profits - Unappropriated Accumulated Profits - Appropriated Treasury Shares, at cost Compute the Total Shareholders' Equity. 3,000,000 1,000,000 400,000 500,000 600,000 300,000 400,000
Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .
Problem 8-6 (Reconstruction of Transaction) Shown below and on the next page are account balances found in the ledger of Humility Corporation at the end of 2014: P 360,000 182,000 Subscription Receivable - Preference Share Subscription Receivable - Ordinary Share 8% Preference Share Capital, P50 par value, authorized, 80,000 shares Issued P 1,440,000 720,000 2,160,000 Subscribed
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: in, assuming it uses the cost method. 10 15.8 Account Title Additional Paid-in Capital on Preferred Stock Amount Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed Retained Earnings Additional Paid-in Capital on Common Stock $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital…
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: LO 15.8 Account Title Amount Additional Paid-in Capital on Preferred Stock Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Retained Earnings Additional Paid-in Capital on Common Stock Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance…
1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…
Question: How much is the total legal capital contribution?

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