Reference no: EM132877279
The financial position of Pipay Corporation showed the following information as at March 31, 2019, the year that the corporation was authorized to issued 500,000 shares.
Cash Assets: P 500,000
Stockholder's Equity Properties
Paid In Capital: Subscription
Receivable 1,560,000 500,000
Share Capital, Par P10, P 1,200,000
Subscribed 1,000,000
Paid in Excess of Par 360,000
Direction: P2,560,000 P 2,560,00
Problem a. How many shares are still unissued?
Problem b. How many shares are still available for sale or for subscription?
Problem c. Record receipt of cash from four incorporators who subscribed at par with a 20% down payment.
Problem d. Record the receipt of properties acquired for shares issued at a premium.
Problem e. Record the additional receipt of cash from the incorporators
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