25 The Blazing Blue Corporation is authorized to issue 100,000 P 10 par value ordinary shares...

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25 The Blazing Blue Corporation is authorized to issue 100,000 P 10 par value ordinary shares and 30,000 no par but with stated value of P 100 preference shares. The corporation engaged in the following share capital transactions through December 31,2019: - 30,000 ordinary shares were issued for P 350,000 and 12,000 preference shares for an equipment valued at P 1,475,000. - Subscriptions for 4,500 ordinary shares have been taken and 40% of the subscription price of P 16 per share has been colleccted. The shares will be issued upon collection of the subscription price in full. 30 days after call date, the subscription is decared to be delinquent and were advertised for sale at a public auction. - Other costs related to the sale of delinquent shares costs P5.000. Received bids from the following. A- 500 shares: B- 700 shares C- 1,000 shares - The amount from the highest bidder is collected and certificates of share capital were issued. - The retained earnings balance on December 31.2019 is P 350,00. How much is the total contributed capital as of December 31,20197 (2 Points) Enter your anSwer 23 ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P 20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock exchange. The par value of the ordinary share is P 10 and the preference shares has no par & no stated value. How much is credited in the Ordinary Share Capital Account upon issuance of the shares? (2 Points) Enter your answer 25 The Blazing Blue Corporation is authorized to issue 100,000 P 10 par value ordinary shares and 30,000 no par but with stated value of P 100 preference shares. The corporation engaged in the following share capital transactions through December 31,2019: - 30,000 ordinary shares were issued for P 350,000 and 12,000 preference shares for an equipment valued at P 1,475,000. - Subscriptions for 4,500 ordinary shares have been taken and 40% of the subscription price of P 16 per share has been colleccted. The shares will be issued upon collection of the subscription price in full. 30 days after call date, the subscription is decared to be delinquent and were advertised for sale at a public auction. - Other costs related to the sale of delinquent shares costs P5.000. Received bids from the following. A- 500 shares: B- 700 shares C- 1,000 shares - The amount from the highest bidder is collected and certificates of share capital were issued. - The retained earnings balance on December 31.2019 is P 350,00. How much is the total contributed capital as of December 31,20197 (2 Points) Enter your anSwer 23 ABC Company issued 500 ordinary and 500 preference shares for a total consideration of P 20,000. Each ordinary share of ABC sells P 15 and preference share at P 30 in the stock exchange. The par value of the ordinary share is P 10 and the preference shares has no par & no stated value. How much is credited in the Ordinary Share Capital Account upon issuance of the shares? (2 Points) Enter your answer

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