unit 5 - wb solutions
DESCRIPTION
ACCTBA WORKBOOK SOLUTIONS BY CHAPTER -LASALLE-TRANSCRIPT
UNIT 5 - Problems 5-1a) Issued shares
40,000 shares x P25 1,000,000 600 shares in exchange for equipment 18,600 Amount of contributed capital 1,018,600
b) Authorized shares 120,000 Issued shares 40,600 Unissued shares 160,600
5-2 Authorized share capital 300,000 Unissued share capital 120,000 Issued share capital 180,000 Share premium 8,000Subscribed share capital 60,000 Subscription receivable (32,000) 28,000 CASH COLLECTED 216,000
5-3 Issuance of 24,000 ordinary shares 1,200,000 Issuance of 6,000 preference shares 96,000 Share premium on subscribed shares (2,000 x P7.00) 14,000 Total contributed capital 1,310,000