Question
The following are the shareholders accounts of Luningning Corporation on December 31, 200E: Authorized Ordinary Share Capital P 750,000 Ordinary Subscriptions Receivable 58,000 Unissued Ordinary
The following are the shareholders accounts of Luningning Corporation on December 31, 200E: Authorized Ordinary Share Capital P 750,000 Ordinary Subscriptions Receivable 58,000 Unissued Ordinary Share Capital 250,000 Subscribed Ordinary Share Capital 100,000 Ordinary Share Premium 16,000 Revaluation Surplus 75,000 Ordinary Treasury Shares 30,000 Unappropriated Retained Earnings 400,000 Appropriated for Treasury Shares 30,000 Appropriated for plant Expansion 120,000 1. If the subscriptions receivable is collectible within one year, how much is the total contributed capital? 2. What if the subscriptions receivable is not collectible within one year? How much is the total contributed capital? 3. How much is the total shareholders equity if the subscriptions receivable has no call date? 4. How much is the total shareholders equity if the subscriptions receivable has a call date of two months from the date of subscriptions? 5. Using the IAS recommendation, how much is the total reserves?
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