Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020: 10% Preference Share Capital, cumulative, 100 par value = $1,000,000 Subscribed Preference Share Capital = $750,000 Subscriptions Receivable-Preference = $450,000 Ordinary Share Capital, 50 par value = $920,000 Subscribed Ordinary Share Capital = 650,000 Subscriptions Receivable-Ordinary = $220,000 Accumulated Profits = $2,410,000 Treasury Share-Ordinary, 500 shares = $35,000 How much is total shareholders' equity as of December 31, 2020?
Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020: 10% Preference Share Capital, cumulative, 100 par value = $1,000,000 Subscribed Preference Share Capital = $750,000 Subscriptions Receivable-Preference = $450,000 Ordinary Share Capital, 50 par value = $920,000 Subscribed Ordinary Share Capital = 650,000 Subscriptions Receivable-Ordinary = $220,000 Accumulated Profits = $2,410,000 Treasury Share-Ordinary, 500 shares = $35,000 How much is total shareholders' equity as of December 31, 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020:
10% Preference Share Capital, cumulative, #100 par value = $1,000,000
Subscribed Preference Share Capital = $750,000
Subscriptions Receivable-Preference = $450,000
Ordinary Share Capital, 50 par value = $920,000
Subscribed Ordinary Share Capital = $650,000
Subscriptions Receivable-Ordinary = $220,000
Accumulated Profits = $2,410,000
Treasury Share-Ordinary, 500 shares = $35,000
How much is total shareholders' equity as of December 31, 2020?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F28e44eef-e50e-496a-b50e-876dada4744b%2Fe0ce50e8-2aef-4565-8dce-a0494f6614c0%2Fjnc2t2l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020:
10% Preference Share Capital, cumulative, #100 par value = $1,000,000
Subscribed Preference Share Capital = $750,000
Subscriptions Receivable-Preference = $450,000
Ordinary Share Capital, 50 par value = $920,000
Subscribed Ordinary Share Capital = $650,000
Subscriptions Receivable-Ordinary = $220,000
Accumulated Profits = $2,410,000
Treasury Share-Ordinary, 500 shares = $35,000
How much is total shareholders' equity as of December 31, 2020?
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