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The company was registered as a stock corporation and the capital bution of the stockholders were as follows: Name of Stockholder 1. Samuel Bugarin Amount of Capital Contribution P 30, 000, 000 15.000.000

The company was registered as a stock corporation and the capital bution of the stockholders were as follows: Name of Stockholder 1. Samuel Bugarin Amount of Capital Contribution P 30, 000, 000 15.000.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Determine the problem and make a solution. Lastly, make a conclusion.

The company was registered as a stock corporation and the capital contribution of the stockholders were as follows: Name of Stockholder Amount of Capital Contribution 1. Samuel Bugarin 30, 000, 000 15, 000, 000 2. Antonio Tagorda 3, 000, 000 3. Edgardo Abuan 1, 000, 000 4. Jesus Ualat 1, 000, 000 5. Rosario Mariano 1, 000, 000 6. Ausberto Taguinod 1, 000, 000 7. Francisco Bundoc 1, 000, 000 8. Amparo Paragas 1, 000, 000 9. Andres Nicolas Total P 54, 000, 000 The three agreed to produce caustic soda liquid, hydrochloric acid, soda ash, sodium sulphate, sodium tripolyphospate, and sulfuric acid. The construction of the company's plant has already begun in Dasmariñas, Cavite. The company has been named the Bugtag Chemical Corporation. Samuel has already started organizing the production department by hiring a production planner. Antonio is still considering what steps to take in organizing his department. One of his problems is the lack of information regarding the nature of the market the company must tap. Also, Antonio is aware of the utmost importance of providing the production department with a demand forecast for the company's products.
Transcribed Image Text:The company was registered as a stock corporation and the capital contribution of the stockholders were as follows: Name of Stockholder Amount of Capital Contribution 1. Samuel Bugarin 30, 000, 000 15, 000, 000 2. Antonio Tagorda 3, 000, 000 3. Edgardo Abuan 1, 000, 000 4. Jesus Ualat 1, 000, 000 5. Rosario Mariano 1, 000, 000 6. Ausberto Taguinod 1, 000, 000 7. Francisco Bundoc 1, 000, 000 8. Amparo Paragas 1, 000, 000 9. Andres Nicolas Total P 54, 000, 000 The three agreed to produce caustic soda liquid, hydrochloric acid, soda ash, sodium sulphate, sodium tripolyphospate, and sulfuric acid. The construction of the company's plant has already begun in Dasmariñas, Cavite. The company has been named the Bugtag Chemical Corporation. Samuel has already started organizing the production department by hiring a production planner. Antonio is still considering what steps to take in organizing his department. One of his problems is the lack of information regarding the nature of the market the company must tap. Also, Antonio is aware of the utmost importance of providing the production department with a demand forecast for the company's products.
Case 12. CASE 11. BUGTAG CHEMICAL CORPORATION: HELP Samuel Bugarin and Antonio Tagorda were classmates at the Chemical Engineering Department of De la Salle University. After passing the board examinations in 1981, Engineer Bugarin applied for a job in a chemical manufacturing company. He first worked as an assistant in the quality control unit. Later, he became chief of the unit. He handled various jobs in the production department. Because of his good performance, he was promoted to production manager in 1993. Engineer Tagorda got a job in 1982 as production planner of Reliance Chemical Company. In 1990, he was assigned as assistant production manager. When the company's marketing manager resigned in 1991, he was transferred to the marketing department and was named as the new marketing manager. His main function was to market the company's products consisting of synthetic resins, aluminum paste, adhesives, plasticizers, calcium sulfate, etc. When he assumed his post as marketing manager, the company is already serving a group of loyal customers. The increasing requirements of these customers also meant additional orders for the company's products. The company's sales increased even if the number of its customers did not. In a class reunion held in April 1997, Samuel and Antonio met and they conversed for more than three hours. Samuel mentioned that he had started organizing his own chemical manufacturing firm and he wanted Antonio to join him. Antonio agreed and in a subsequent meeting decided to divide the work between the two of them. Samuel was to take care of production and Antonio would handle marketing. They decided to invite an experienced finance officer and a high school classmate, Edgardo Abuan. He became the company's finance manager.
Transcribed Image Text:Case 12. CASE 11. BUGTAG CHEMICAL CORPORATION: HELP Samuel Bugarin and Antonio Tagorda were classmates at the Chemical Engineering Department of De la Salle University. After passing the board examinations in 1981, Engineer Bugarin applied for a job in a chemical manufacturing company. He first worked as an assistant in the quality control unit. Later, he became chief of the unit. He handled various jobs in the production department. Because of his good performance, he was promoted to production manager in 1993. Engineer Tagorda got a job in 1982 as production planner of Reliance Chemical Company. In 1990, he was assigned as assistant production manager. When the company's marketing manager resigned in 1991, he was transferred to the marketing department and was named as the new marketing manager. His main function was to market the company's products consisting of synthetic resins, aluminum paste, adhesives, plasticizers, calcium sulfate, etc. When he assumed his post as marketing manager, the company is already serving a group of loyal customers. The increasing requirements of these customers also meant additional orders for the company's products. The company's sales increased even if the number of its customers did not. In a class reunion held in April 1997, Samuel and Antonio met and they conversed for more than three hours. Samuel mentioned that he had started organizing his own chemical manufacturing firm and he wanted Antonio to join him. Antonio agreed and in a subsequent meeting decided to divide the work between the two of them. Samuel was to take care of production and Antonio would handle marketing. They decided to invite an experienced finance officer and a high school classmate, Edgardo Abuan. He became the company's finance manager.
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