How much is the balance of the Share Capital account as of June 30?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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GMA Corp. was formed on June 1 with 100,000 authorized shares having a par value of ₱20. The following transactions occurred:
- June 15: Issued 808 shares at ₱22 per share
- June 20: Received subscriptions for 1,136 shares at ₱23 per share with 25% down payment
- June 25: Received subscriptions for 455 shares at ₱26 per share with 30% down payment
- June 30: Collected the June 20 subscription in full
How much is the balance of the Share Capital account as of June 30?
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