CC Services, an individual proprietorship has thefollowing condensed balance sheet at December 31,20x3:Current AssetsP300,000LiabilitiesP130,000Celine Carpio,Equipment (net) 152,000322,000CapitalFair Values at December 31, 20x3Current Assets-P 350,000Equipment-P 325,000Liabilities-P130,000On January 2, 20x4, CC Services was incorporated with5,000 shares of P10 par value of Ordinary Shares issued.How much is the share premium? On March 1, 20x5, Ria Corporation has 200,000 sharesof P10 par Ordinary Shares outstanding and the marketprice of the stock is P15 per share. On the same date, thecorporation declared a 1 for 2 reverse stock split.Immediately prior to the 1 for 2 reverse stock split, thefollowing accounts can be found in the stockholdersequity section of the corporation.Preferred Shares, par value P100, authorizedP 800,000shares 10,000 sharesShare Premium -Preference325,000Ordinary Shares, P10 par, 1,000,000 sharesauthorized2,000,000Share Premium - Ordinary450,000Retained Earnings3,125,5321. How much is the Share premium- Ordinaryimmediately after the 1 for 2 reverse stocks split?2. How much is the legal capital immediately after the 1for 2 reverse stocks split?

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CC Services, an individual proprietorship has the following condensed balance sheet at December 31, 20x3: Current Assets РЗО0,000 Liabilities Р130,000 Celine Carpio, Equipment (net) 152,000 322,000 Capital Fair Values at December 31, 20x3 Current Assets-P 350,000 Equipment-P 325,000 Liabilities-P130,000 On January 2, 20x4, CC Services was incorporated with 5,000 shares of P10 par value of Ordinary Shares issued. How much is the share premium?

CC Services, an individual proprietorship has the following condensed balance sheet at December 31, 20x3: Current Assets РЗО0,000 Liabilities Р130,000 Celine Carpio, Equipment (net) 152,000 322,000 Capital Fair Values at December 31, 20x3 Current Assets-P 350,000 Equipment-P 325,000 Liabilities-P130,000 On January 2, 20x4, CC Services was incorporated with 5,000 shares of P10 par value of Ordinary Shares issued. How much is the share premium?

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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