The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of par - ordinary) 160,000 Assume that subscription receivables are collectible within one year. a. How much is the issued preference share capital? b. How much is the issued ordinary share capital? c. How many preference shares are available for subscription? d. How many ordinary shares are available for subscription? e. How much is the balance of the Shareholders’ Equity as of December 31? f. How much is the issued common stock?
The accounts shown below pertain to P Company at December 31:
Authorized
Authorized Ordinary Share Capital, P10 par 400,000
Unissued Preference Share Capital 200,000
Unissued Ordinary Share Capital 150,000
Subscription Receivable, Preference 60,000
Subscription Receivable, Ordinary 50,000
Subscribed Preference Shares Capital 40,000
Subscribed Ordinary Shares Capital 50,000
Treasury Shares, Preference (1,000 shares at cost) 120,000
Paid in Capital (in excess of par - ordinary) 160,000
Assume that subscription receivables are collectible within one year.
a. How much is the issued preference share capital?
b. How much is the issued ordinary share capital?
c. How many preference shares are available for subscription?
d. How many ordinary shares are available for subscription?
e. How much is the balance of the Shareholders’ Equity as of December 31?
f. How much is the issued common stock?
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