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How much is the legal capital

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Reference no: EM132869212

Question - The shareholders' equity section of Myeeong Company revealed the following information on December 31, 2020.

Preference share capital, P100 par 2,3000,000

Share premium - PS 805,000

Ordinary share capital, P15 par 5,250,000

Share premium 2,750,000

Subscribed ordinary share capital 500,000

Retained earnings 1,900,000

Notes Payable 4,000,000

Subscription receivable - ordinary 400,000

Required - How much is the legal capital?

Reference no: EM132869212

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