5. UniCo Ltd sold 7.000 Common stock shares to its board members for Rs 30 Per share, whereas the par value is Rs. 10 per share. The board member paid 30 percent at the time of issuance. After 6 months the board members paid the remaining subscription a) Calculate the amount of subscription receivable b) Pass Journal entry to record the transaction of issuance of shares e) Pass Journal entry to record the transaction of payment of subscription 6. Athletic Endurance Company had the following stockholders' equity section on the December 31. 2010, balance sheet: Preferred stock, 6%, 5120 par, cumulative $1,170,000 (70200) Common stock, $1.50 par value 300,000 Paid-in capital in excess of par, common stock 1,200,000 Retained earnings 2.500,000 Total S5,170,000 1. How many shares of common stock are classified as issued? (300000/1.5)- 200000 2. How many shares of common stock are outstanding? (200000-0) 200000 3. How many shares of preferred stock are outstanding? 4. What was the average selling price of a share of common stock? (1170000/120)-9750 Page 2 of 6