Required: Compute the following a. Contributed capital b. Legal capital c. Total shareholders' equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 4: Legal and Contributed Capital
Aquinde Corporation has the following accounts in its shareholders equity on
February 1, 20x1:
Preference share, P100 par
Ordinary share, P50 par
Subscribed preference share
Subscription receivable - preference
Subscribed ordinary share
Subscription receivable - ordinary
Share premium - preference
Share premium - ordinary
Retained earnings
Treasury share 5,000 ordinary share at cost
2,500,000
5,500,000
1,500,000
800,000
2,000,000
600,000
200,000
400,000
2,000,000
400,000
Required: Compute the following
Contributed capital
b. Legal capital
Total shareholders' equity
a.
C.
Transcribed Image Text:quity Problem 4: Legal and Contributed Capital Aquinde Corporation has the following accounts in its shareholders equity on February 1, 20x1: Preference share, P100 par Ordinary share, P50 par Subscribed preference share Subscription receivable - preference Subscribed ordinary share Subscription receivable - ordinary Share premium - preference Share premium - ordinary Retained earnings Treasury share 5,000 ordinary share at cost 2,500,000 5,500,000 1,500,000 800,000 2,000,000 600,000 200,000 400,000 2,000,000 400,000 Required: Compute the following Contributed capital b. Legal capital Total shareholders' equity a. C.
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