A corporation is being formed with a P40, 000 authorized share capital.How much of the P40, 000 should be subscribed for, and how muchmust be paid in full?1. P 10,000; P 2,5002. P 15,000; P 5,0003. P 10,000; P 5,0004. P 15,000; P 2,500

According to corporate law, the minimum subscribed capital at the moment of incorporation must be at…

Answered: A corporation is being formed with a…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 21DQ

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A corporation is being organized with an authorize share capital of P40,000. How much of this P40,000 should be subscribed and how much must be actually paid? a. P 10,000; P 2,500 b. P 15,000; P 5,000 c. P 10,000 ; P 5,000 d. P 15,000; P 2,500 If a corporation reissued at P200 per share 100 shares of treasury stock that it had previously acquired for P280 per share and there wasn’t any Share Premium – Treasury, it would debit a. Loss on sale of treasury stock for P 8,000 b. Share Premium – Ordinary for P 8,000 c. Retained earnings for P 8,000 d. Treasury stock for P 8,000
A, B, C, D and E is organizing a corporation whose Authorized Capital Stock is 64,000 with par value of P50. How much is the minimum paid-up capital requirement under the Revised Corporation Code for the corporation to incorporate?
Plase help me how did 62,500 or 625 shares get? The authorized capital stock of a proposed corporation is P1,000,000 divided into 10,000 shares with a par value of P100.00 each. The minimum amount of subscription that must be paid is:Answer: P62,500 or 625 shares
Magbarkada Corporation hire promoters to procure subscriptions for the corporation. As per Articles of Incorporation the corporation has an authorized share capital of P60,000. How much shares should be subscribed and actually paid as per SEC requirement? Amount Subscribed Amount Paid a. P 15,000 P 5,000 b. P 30,000 P 6,000 c. P 15,000 P 3,750 d. P 12,000 P 3,000
The authorized capital stock of a proposed corporation is P1,000,000 divided into 10,000 shares with a par value of P100.00 each. The minimum amount of subscription that must be paid is: Please help me with complete solutions and explanations please. Thank you
NEED ASAP. Solve correctly and show your computations. The Corporation shareholders’ equity section of the Statement of Financial Position includes the following accounts and balances: Ordinary Share Capital, P100 par, 5,000 shares issued P500,000 Ordinary Share Premium 50,000 Retained earnings 750,000 Assuming a major shareholder donated 5,000 shares when the market value of the share capital was P140 per share, and was recorded as a debit to Treasury Shares and credit to Donated Capital. How much was the increase (decrease) in the total Additional Paid In Capital? Put a parenthesis if your answer is decrease.
INDIGO Corporation provided the following shareholders' equity accounts. What is the amount of legal capital? ₱ 8,725,000 ₱ 10,443,500 ₱ 8,981,000 ₱ 10,233,000
1. ST Corporation has a total shareholders' equity of P1,000,000, including retained earnings of P175,000. The cash balance is P350,000. How much is the maximum amount of cash dividend that the corporation can declare and pay? a. P175,000 b. P1,000,000 c. P350,000 d. P525,0002. CT, Inc. has 10,000 shares of 8% P50 par preference shares and 100,000 shares of P4par ordinary shares outstanding. Two years’ preference dividends are in arrears. It declared cash dividends large enough to pay preference dividend in arrears, the preference dividends for the current period, and a P1.50 dividend to ordinary. What is the total amount oft he dividend? a. P270,000 b. P260,000 c. P255,000 d. P225,000 3. DY Corporation declared the regular quarterly dividend of P2 per share. It had issued12,000 shares and subsequently reacquired 2,000 shares as treasury stock. What would be the amount of the dividend per quarter?Required to answer. Single choice. a. P4,000 b. P20,000 c.…
A Corporation has 6,000 shares of P100 par value Ordinary Share Capital and reacquires 1,000 shares at P100 as Treasury Shares. What is the balance of the Ordinary Share capital account after the purchase of Treasury Shares?
PAPAYA Corporation is authorized to issue ₱1,000,000 share capitaldividend into 10,000 shares with ₱100 par. If 2,000 shares were sold oncash basis at ₱150/share, by how much did the corporation's assetincrease? Choices: ₱ 200,000₱ 100,000₱ 400,000₱ 300,000
The Corporation shareholders’ equity section of the Statement of Financial Position includes the following accounts and balances: Ordinary Share Capital, P100 par, 5,000 shares issued P500,000 Ordinary Share Premium 50,000 Retained earnings 750,000Assuming a major shareholder donated 5,000 shares when the market value of the share capital was P140 per share, and was recorded as a debit to Treasury Shares and credit to Donated Capital. How much was the increase (decrease) in the total Additional Paid In Capital? Put a parenthesis if your answer is decrease.
A corporation issued shares with par value of P 200.00, subsequently, the corporation purchased the share at par value. If the shares are sold by the corporation for P 150.00 per share, N subscribed for 100 shares of the corporation and paid the 70 shares. 2.2 What will be the document to be used, is it a subscription contract or pre-incorporation contract. Explain.

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A corporation is being formed with a P40, 000 authorized share capital. How much of the P40, 000 should be subscribed for, and how much must be paid in full? 1. P 10,000; P 2,500 2. P 15,000; P 5,000 3. P 10,000; P 5,000 4. P 15,000; P 2,500