Answered: S1 A subscriptions receivable that are…

S1 A subscriptions receivable that are collectible within one year is part of shareholders equity. S2 Par value equity shares should not be issued for a consideration below P5.00 per share.

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

100%

S1 A subscriptions receivable that
are collectible within one year is part
of shareholders equity. S2 Par value
equity shares should not be issued for a
consideration below P5.00 per share.
a. Both statements are true
b. Both statements are false
c. One statement is true, and the other one
is false

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