Reference no: EM132738019
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
Problem 1: What is the amount of legal capital?
How do prepare the necessary adjusting entries as of march
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Find what is the amount of legal capital
: What is the amount of legal capital? Preference share capital, P100 par 2,300,000. Share premium - preference share 805,000.
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