Problem 2: (Paid-In Capital is also called Share Premium) Shown below are account balances found in the ledger of Emerald Green Corporation at the end of 2014: 720,000 364,000 Subscription Receivable - Preference Shares Subscription Receivable - Ordinary Share 10% Preference Share Capital, P50 par value, authorized, 100,000 shares P 2,880,000 1,440,000 Issued Subscribed 4,320,000 Ordinary Share Capital, no par, P10 stated value, authorized, 300,000 shares Issued Subscribed Paid-In Capital in Excess of Par or Stated Value Préference share P 2,720,000 560,000 3,280,000 P. 432,000 Ordinary share 656,000 1,088,000 Instructions: Compute for each of the item shown below. Present supporting computation in good form in a separate work sheet. 1. Number of preference share issued. 2. Number of ordinary shares issued.
Problem 2: (Paid-In Capital is also called Share Premium) Shown below are account balances found in the ledger of Emerald Green Corporation at the end of 2014: 720,000 364,000 Subscription Receivable - Preference Shares Subscription Receivable - Ordinary Share 10% Preference Share Capital, P50 par value, authorized, 100,000 shares P 2,880,000 1,440,000 Issued Subscribed 4,320,000 Ordinary Share Capital, no par, P10 stated value, authorized, 300,000 shares Issued Subscribed Paid-In Capital in Excess of Par or Stated Value Préference share P 2,720,000 560,000 3,280,000 P. 432,000 Ordinary share 656,000 1,088,000 Instructions: Compute for each of the item shown below. Present supporting computation in good form in a separate work sheet. 1. Number of preference share issued. 2. Number of ordinary shares issued.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Instruction: Compute for the following with solution
Question:
______1. Number of
______2. Number of ordinary share issued
Transcribed Image Text:Problem 2: (Paid-In Capital is also called Share Premium)
Shown below are account balances found in the ledger of Emerald Green Corporation at
the end of 2014:
P
720,000
364,000
Subscription Receivable - Preference Shares
Subscription Receivable - Ordinary Share
10% Preference Share Capital, P50 par value,
authorized, 100,000 shares
Issued
Subscribed
P 2,880,000
1,440,000
4,320,000
Ordinary Share Capital, no par, P10 stated value,
authorized, 300,000 shares
Issued
Subscribed
Paid-In Capital in Excess of Par or Stated Value
Préference share
Ordinary share
P 2,720,000
560,000
3,280,000
432,000
656,000
P.
1,088,000
Instructions: Compute for each of the item shown below. Present supporting computation
in good form in a separate work sheet.
1.
Number of preference share issued.
2.
Number of ordinary shares issued.
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