Reference no: EM132865038
Question - 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. How much was the total contributed capital, inclusive of the subscription receivable?
2. What is the total shareholders' equity at December 31, 2021?