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How much is the legal capital of the corporation

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Reference no: EM132898735

The shareholders' equity of Rocket Corporation revealed the following on December 31, 2021:

Preference share capital, P100 par P250,000

Preference share premium 80,000

Ordinary share capital, P50 par 500,000

Ordinary share premium 200,000

Ordinary share subscribed 10,000

Retained earnings 170,000

Notes payable 300,000

Subscription receivable - ordinary 40,000

The call date of all subscription receivable as of date is within 3 months.

The requirements for this set of information, to be entered in the next two questions, are:

Question 1: How much is the legal capital of the corporation?

Question 2: How much is the total stockholders' equity?

Reference no: EM132898735

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