The CFAS Corporation is authorized to issue 100,000 ordinary shares, P15 par value. At the beginning...

Transcribed Image Text:

The CFAS Corporation is authorized to issue 100,000 ordinary shares, P15 par value. At the beginning of the year, 20,000 ordinary shares were issued and outstanding. These shares had been issued at P25. During the year, the company entered into the following transactions: Jan. 16- Issued 1,300 ordinary shares at P26 per share. Mar. 21 - Exchanged 12,000 ordinary shares for a building. The ordinary shares were selling at P29 per share. May 7 - Reacquired 500 ordinary shares at P24 per share to be held in treasury. July 1 - Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 60% down payment with the balance due on June 30 next year. Sept. 20-Sold 500 treasury shares at P30 per share. Total contributed capital at December 31 is The CFAS Corporation is authorized to issue 100,000 ordinary shares, P15 par value. At the beginning of the year, 20,000 ordinary shares were issued and outstanding. These shares had been issued at P25. During the year, the company entered into the following transactions: Jan. 16- Issued 1,300 ordinary shares at P26 per share. Mar. 21 - Exchanged 12,000 ordinary shares for a building. The ordinary shares were selling at P29 per share. May 7 - Reacquired 500 ordinary shares at P24 per share to be held in treasury. July 1 - Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 60% down payment with the balance due on June 30 next year. Sept. 20-Sold 500 treasury shares at P30 per share. Total contributed capital at December 31 is

Answer rating: 100% (QA)

CFAS Corporation Sattement of Stockholders Equity For the Ye... View the full answer