The following information relate to the records of MAHAL CO. Authorized Ordinary Shares , 500,000 shares, P10 par Ordinary Share Capital P2,500,000 Ordinary Shares Subscribed Capital 1,200,000 Ordinary Shares Subscriptions Receivable 600,000 Ordinary Share Premium 740,000 The Ordinary Shares Subscribed of P1,200,000 refers to subscriptions made by 10 persons. Each of the ten subscribers subscribed to an equal number of shares at par and each one made a fifty percent payment on their subscriptions. Assuming four of the ten subscribers of MAHAL CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued? ( Answer should include shares word EX: 50,000 shares) When all of the subscriptions receivable of MAHAL CO. have been collected and the shares issued what is the total amount of Share Capital issued and the total number of shares issued? (Answer pattern should be P1,000,000 and 100,000 shares)
The following information relate to the records of MAHAL CO.
Authorized Ordinary Shares , 500,000 shares, P10 par
Ordinary Share Capital P2,500,000
Ordinary Shares Subscribed Capital 1,200,000
Ordinary Shares Subscriptions Receivable 600,000
Ordinary Share Premium 740,000
The Ordinary Shares Subscribed of P1,200,000 refers to subscriptions made by 10 persons. Each of the ten subscribers subscribed to an equal number of shares at par and each one made a fifty percent payment on their subscriptions.
Assuming four of the ten subscribers of MAHAL CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued?
( Answer should include shares word EX: 50,000 shares)
When all of the subscriptions receivable of MAHAL CO. have been collected and the shares issued what is the total amount of Share Capital issued and the total number of shares issued?
(Answer pattern should be P1,000,000 and 100,000 shares)
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