The articles of incorporation of COVID corporation provide for the issuance of 100,000 shares without par value and an issued price per share of P10.00. At the time of incorporation, the subscription and paid-up should not be less than: P250,000 and P250,000 respectively No subscription and P250,000 paid-up P250,000 and no paid-up required No minimum requirements

The articles of incorporation of COVID corporation provide for the issuance of 100,000 shares without par value and an issued price per share of P10.00. At the time of incorporation, the subscription and paid-up should not be less than: P250,000 and P250,000 respectively No subscription and P250,000 paid-up P250,000 and no paid-up required No minimum requirements

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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The LL Company will issue shares of P10 par value common stock for all the assets and liabilities of the OO Company. LL Company’s common stock has a current market value of P40 per share. The OO Company’s net assets were as follows: Current Assets 1,280,000 Non-Current Assets 3,520,000 Liabilities 1,600,000 The fair market value of the current assets is P1,600,000 while that of the non-current assets is 6,400,000. All of the liabilities are correctly stated. LL Company issued sufficient shares of stock so that the fair market value of the stock is equal the fair market value of OO Company’s net assets. To have an income from acquisition of P400,000, the number of shares to be issued by LL should be?
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Namjoon Corporation is authorized to issue 500,000 shares of Ordinary Share Capital, P50 par value. To comply with the required subscription of the Securities and Exchange Commission, assuming the minimum required subscription was received at P 110, how much subscription must be paid up?
Carla Vista Corporation was organized on January 1, 2026 with the authorization of 1300000 shares of common stock with a par value of $6 per share. In 2026, the corporation had the following capital transactions: January 5 issued 650000 shares @ $11 per share July 28 purchased 76000 shares @ $11 per share December 31 sold the 76000 shares held in treasury @ $18 per share Carla Vista used the cost method to record the purchase and the reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2026? O $3782000. O $2558000. O $3250000. O $-0-.
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