Question
Glenn Company provided the following information at year-end: Preference share capital, P100 par 2,300,000 Share premium - preference share 805,000 Ordinary share capital, P10 par
Glenn Company provided the following information at year-end:
Preference share capital, P100 par 2,300,000 Share premium - preference share 805,000 Ordinary share capital, P10 par 5,250,000 Share premium - ordinary share 2,750,000 Subscribed ordinary share capital 50,000 Retained earnings 1,900,000 Note payable 4,000,000 Subscription receivable - ordinary share 400,000
What is the amount of legal capital?
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Introduction To Financial Accounting
Authors: Charles T Horngren, Gary L Sundem
10th Edition
136122973, 978-0136122975
