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The following information relate to the records of MAHAL CO. Authorized Ordinary Shares , 500,000 shares, P10 par Ordinary Share Capital P2,500,000 Ordinary Shares Subscribed
The following information relate to the records of MAHAL CO. Authorized Ordinary Shares , 500,000 shares, P10 par Ordinary Share Capital P2,500,000 Ordinary Shares Subscribed Capital 1,200,000 Ordinary Shares Subscriptions Receivable 600,000 Ordinary Share Premium 740,000 The Ordinary Shares Subscribed of P1,200,000 refers to subscriptions made by 10 persons. Each of the ten subscribers subscribed to an equal number of shares at par and each one made a fifty percent payment on their subscriptions. Assuming four of the ten subscribers of MAHAL CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued
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