Kindly answer please. My question is rejected 4x 1.How much is the total legal capital? 2. How much the total contributed capital?
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GRAPES Company provided the following data for the year:
• Sold 25,000
• Sold 80,000 ordinary shares of ₱10, par at ₱45.
• Purchased and retired 10,000 preference shares at ₱60
• Purchased 5,000 shares at ₱40 to be held as treasury
• Sold 3,000 treasury ordinary shares at ₱50
• Share split up for ordinary shares, 2 for 1
• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20
• Retired 500 treasury ordinary shares
• Net income for the year was ₱2,500,000
• Appropriated
Kindly answer please. My question is rejected 4x
1.How much is the total legal capital?
2. How much the total contributed capital?
Step by step
Solved in 4 steps with 6 images
- GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 13. How much is the balance of the shareholders’ equity at year-end?14. How much is the total legal capital?15. How much the total contributed capital?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 1. How much is the total legal capital?2. How much the total contributed capital?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. kindly aswer the following. my question is rejected twice. Thankyou 14. How much is the total legal capital?15. How much the total contributed capital?
- GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 11. What is the total outstanding ordinary shares at year-end?12. What is the total issued shares at year-end (add preference and ordinary)13. How much is the balance of the shareholders’ equity at year-end?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:C. Prepare all necessary entries for the year.D. Compute or provide the answers for the following:8. What is the balance of preference share capital at year-end?9. What is the balance of ordinary share capital at year-end?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:C. Prepare all necessary entries for the year.
- GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:A. Compute or provide the answers for the following:1. How much is the total legal capital?2. How much the total contributed capital?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:A. Compute or provide the answers for the following:1. What is the total outstanding ordinary shares at year-end?2. What is the total issued shares at year-end (add preference and ordinary)3. How much is the balance of the shareholders’ equity at year-end?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 14. How much is the total legal capital?15. How much the total contributed capital?
- GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:A. Compute or provide the answers for the following:1. What is the balance of preference share capital at year-end?2. What is the balance of ordinary share capital at year-end?3. What is the total balance of treasury shares at year-end?GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:D. Compute or provide the answers for the following:8. What is the balance of preference share capital at year-end?9. What is the balance of ordinary share capital at year-end?10. What is the total balance of treasury shares at year-end?11. What is the total outstanding ordinary shares at year-end?12. What is the total issued shares at year-end (add preference and ordinary)13. How much…Provide solutions in good accounting form. Thank you! LAVENDER Corporation issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of its ₱80 par value preference share capital for a total amount of ₱1,800,000. At this date, the company's ordinary shares are selling at ₱80 per share and the preference shares are at ₱100 per share. What amount of the proceeds should be allocated to the preference shares? a.₱ 800,000 b.₱ 640,000 c. ₱ 600,000 d.₱ 400,000
