TROPA Inc. was incorporated on January 1, 2020, Information about its authorized shares is shown below: Ordinary share capital, 450.000 shares, no par, P10 stated value P4.500.000 Class "A" preference share capital. 75.000 shares P50 par value 3,750,000 Class "B" preforence share capital, 30,000 shares P60 par value 1,800.000 In 2020, TROPA issued 150,000 shares for total amount of P2.700,000 and 30,000 Class A preference shares for P60 per share. Furthermore, 15,000 shares of Class "B" preference shares were subscribed by shareholders at P7S per share, the comparnry received P375,000 down payment. The subscription contract calls for the payment at the balance on February 1, 2021. Profit for the year amounted to P300.000. nholder's couity as of December 31. 2020?
TROPA Inc. was incorporated on January 1, 2020, Information about its authorized shares is shown below: Ordinary share capital, 450.000 shares, no par, P10 stated value P4.500.000 Class "A" preference share capital. 75.000 shares P50 par value 3,750,000 Class "B" preforence share capital, 30,000 shares P60 par value 1,800.000 In 2020, TROPA issued 150,000 shares for total amount of P2.700,000 and 30,000 Class A preference shares for P60 per share. Furthermore, 15,000 shares of Class "B" preference shares were subscribed by shareholders at P7S per share, the comparnry received P375,000 down payment. The subscription contract calls for the payment at the balance on February 1, 2021. Profit for the year amounted to P300.000. nholder's couity as of December 31. 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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