Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Below is the detailed share capital of Phoebe Garden Corporation as of December 31, 2019: Authorized Ordinary Share Capital (@ P15 par value) P 6,000,000

Below is the detailed share capital of Phoebe Garden Corporation as of December 31, 2019:

Authorized Ordinary Share Capital (@ P15 par value) P 6,000,000

Authorized 10% Preference Share Capital (@ P20 stated value) 3,000,000

Ordinary Share Capital 1,500,000

Preference Share Capital 400,000

Ordinary Share Capital Subscribed 2,250,000

Ordinary Share Capital Subscription Receivable 1,200,000 Ordinary Share Premium 300,000

The Ordinary Share Capital Subscribed is equally subscribed by 5 persons. All subscribers made a 60% initial payment. As of December 31, 2019.

How many ordinary shares authorized and issued?

Using the above question, on January 5, 2020, two out of five subscribers made the full payment. How many ordinary shares will be issued relevant to the full payment of two subscribers?[1:17 PM]

Using the above question, after the two subscribers made the full payment on January 5, how much is the balance of Ordinary Share Capital Subscription Receivable

Using the above question, assuming all the subscribers paid the balances in full, what will be the total amount of ordinary share capital issued and the total number of ordinary shares issued?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Draw a labelled diagram of the Dicot stem.

Answered: 1 week ago