Compute the equivalent number of shares subscribe

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Reference no: EM132721706

Five incorporation subscribe with required minimum subscription.

Jenny cooperation is being formed or organised with a proposed authorized capital stock of k5, 000,000 as indicate in the articles of incorporation. The authorized capital is divided into 500,000 shares with a par value of k10 per share.

Required:

Problem 1: Compute the following at the time of incorporation:

01. Minimum subscription

02. Minimum paid-in capital

03. Equivalent number of shares subscribes

Reference no: EM132721706

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