User Account

All Pages

What amount should be reported as total contributed capital

Assignment Help Financial Accounting
Reference no: EM132757462

On January 1, 2019, Negros Company was incorporated with following authorized capitalization: Ordinary share capital, 200,000 shares, no par,  P100 stated value 20,000,000 Preference share capital, 200,000 shares, 10% fixed rate, P50 par value 10,000,000

  • During 2019, the entity issued 150,000 ordinary shares for a total of P18,000,000 and 50,000 preference shares at P60 per share.
  • In addition, on December 15, 2019, subscriptions for 20,000 preference shares were taken at a purchase price of P100. These subscribed shares were paid for on January 15, 2020.
  • Net income for 2019 was P5,000,000.

Problem 1: What amount should be reported as total contributed capital on December 31, 2019?

Reference no: EM132757462

Questions Cloud

Write the truthtable k maps : Design a synchronous counter that can run the seven segment display automatically.Write the truthtable, K maps (if needed) and Design the circuit
Compute what amount should be reported for share premium : What amount of the proceeds should be allocated, What amount should be reported for share premium on the issuance of the ordinary shares?
Find what amount should be reported for share premium : What amount should be reported for share premium? At the beginning of current year, Ashe Company was organized with authorized capital of 100,000 shares of P200
Describe at least three or four websites : Did the multimedia and interactivity elements in these websites support the website's purpose? If so, how? If not, why not?
What amount should be reported as total contributed capital : On January 1, 2019, Negros Company was incorporated, What amount should be reported as total contributed capital on December 31, 2019?
Contrast the three phases of database design : Compare and contrast the three phases of database design
What amount should be credited to share premium as a result : What amount should be credited to share premium as a result of conversion? During the current year, Hyatt Company issued for P110 per share
Compute for the revaluation surplus recognized : The asset has a legal life of 15 years. Compute for the Patent carrying value at December 31, 2019 and Impairment loss to be recognized in 2019
What does sql stand for in computer : What does SQL stand for in computer?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd