Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 02, 2024

The shareholders' equity of a corporation revealed the following information: Preferred share, P100 par - P4,200,000; Common share, P50 par - P5,800,000; Premium on Ordinary

The shareholders' equity of a corporation revealed the following information: Preferred share, P100 par - P4,200,000; Common share, P50 par - P5,800,000; Premium on Ordinary share - P100,000; Subscribed Ordinary share - P250,000; Subscription receivable - 100,000; Retained earnings - 2,000,000. How much is the legal capital? Provide solutions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Vernon Richardson, Chengyee Chang, Rod Smith

2nd edition

978-1260153156

Students also viewed these Accounting questions

Question

The three objectives of a study by Wolkin et al. (A-28) were to determine (a) the effects of chronic haloperidol treatment on cerebral metabolism in schizophrenic patients, (b) the relation between...

Answered: 1 week ago

Question

★★★★★

In this exercise, you modify the History Grade application from this chapters Focus lesson. Use Windows to make a copy of the History Solution folder. Rename the copy History Solution-Functions. Open...

Answered: 1 week ago

Question

★★★★★

During 2021, its first year of operations, XYZ Company produced 25,000 units and sold 19,000 units. During 2022, XYZ Company produced 30,000 units and sold 32,000 units. The following information was...

Answered: 1 week ago

Question

★★★★★

In a MS Excel spreadsheet, list all deductible items in column A. In column B, determine where that deduction should appear on Form 1040 (for tax year 2013). Included or Excluded Items Two years ago,...

Answered: 1 week ago

Question

★★★★★

Solve the following problems using Mohr's circle. Given: P = 10.5 ksi + P Normal stresses: Ox'= Oy= 8 ksi Draw Mohr's circle and use it to determine the normal and shearing stresses after the element...

Answered: 1 week ago

Question

★★★★★

2. (6 points) Calculate the charge of a 4.0 g sample of Zinc (atomic number 30, atomic mass 65.37 g/mole, density 7.133g/cm) from which one electron out of every 101 electrons has been removed

Answered: 1 week ago

Question

★★★★★

Which two of the following statements are true about acquisition intelligence during the acquisition life cycle? A. Manages thresholds/objectives requirements to meet or exceed expected threat...

Answered: 1 week ago

Question

★★★★★

During the release of an important product, a vice president for a different product line brought a valid concern to the project team, which had to be completed before the release. The vice president...

Answered: 1 week ago

Question

★★★★★

Lars acquired a new network system on June 5, 2022 (five-year class property), for $55,000. She expects taxable income from the business will always be about $145,000 without regard to the 179...

Answered: 1 week ago

Previous Question Next Question