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What is the par value of the preference share capital

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Reference no: EM132818928

Question - Corporation: Formation and Share Capital Transactions Supply the required information.

The general ledger of Solitaire Corporation on December 31, 2021 showed the following balances of shareholders' equity account:

Authorized preference share capital, 100,000 shares 2,500,000

Unissued preference share capital 750,000

Authorized ordinary share, no par, 10 stated value 1,200,000

Unissued ordinary share capital 650,000

Share premium, preference share 500,000

Paid in capital in excess of stated value 150,000

Subscribed preference share capital 375,000

Subscription receivable-preference share due, due March 1, 2022 125,000

Retained earnings 525,000

Required -

1. What is the par value of the preference share capital?

2. What was average consideration received or receivable for each share of preference share capital?

3. How many ordinary shares had been issued?

4. What was the average issue price per ordinary share?

5. How much was the total contributed capital, inclusive of the subscription receivable?

6. What is the total shareholders' equity at December 31, 2021?

Reference no: EM132818928

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