quityProblem 4: Legal and Contributed CapitalAquinde Corporation has the following accounts in its shareholders equity onFebruary 1, 20x1:Preference share, P100 parOrdinary share, P50 parSubscribed preference shareSubscription receivable - preferenceSubscribed ordinary shareSubscription receivable - ordinaryShare premium - preferenceShare premium - ordinaryRetained earningsTreasury share 5,000 ordinary share at cost2,500,0005,500,0001,500,000800,0002,000,000600,000200,000400,0002,000,000400,000Required: Compute the followingContributed capitalb. Legal capitalTotal shareholders' equitya.C.

Share holders' Equity: It is the statement that provides the movement of the owner's balance from…

Answered: Required: Compute the following a.…

Business

Accounting

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

Section: Chapter Questions

Problem 1Q

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Question

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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