Homework Help is Here – Start Your Trial Now!
Business
Accounting
The shareholders' equity of McCoy Corp. revealed the following on June 30, 2017: ·       Preference share, P100 par value: P230,000 ·       Preference share premium: 80,500 ·       Ordinary share, P15 par value: 525,000 ·       Ordinary share premium: 275,000 ·       Ordinary share subscribed: 5,000 ·       Retained earnings: 190,000 ·       Notes payable: 400,000 ·       Subscription receivable -ordinary: 40,000 How much is the additional paid-in capital?     P360,500 P355,500 P800,500 P400,500

The shareholders' equity of McCoy Corp. revealed the following on June 30, 2017: ·       Preference share, P100 par value: P230,000 ·       Preference share premium: 80,500 ·       Ordinary share, P15 par value: 525,000 ·       Ordinary share premium: 275,000 ·       Ordinary share subscribed: 5,000 ·       Retained earnings: 190,000 ·       Notes payable: 400,000 ·       Subscription receivable -ordinary: 40,000 How much is the additional paid-in capital?     P360,500 P355,500 P800,500 P400,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
20. The shareholders' equity of McCoy Corp. revealed the following on June 30, 2017:

·       Preference share, P100 par value: P230,000
·       Preference share premium: 80,500
·       Ordinary share, P15 par value: 525,000
·       Ordinary share premium: 275,000
·       Ordinary share subscribed: 5,000
·       Retained earnings: 190,000
·       Notes payable: 400,000
·       Subscription receivable -ordinary: 40,000

How much is the additional paid-in capital?
 
 
P360,500
P355,500
P800,500
P400,500
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Dividends
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS