Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020: 10% Preference Share Capital, cumulative, 100 par value = $1,000,000 Subscribed Preference Share Capital = $750,000 Subscriptions Receivable-Preference = $450,000 Ordinary Share Capital, 50 par value = $920,000 Subscribed Ordinary Share Capital = 650,000 Subscriptions Receivable-Ordinary = $220,000 Accumulated Profits = $2,410,000 Treasury Share-Ordinary, 500 shares = $35,000 How much is total shareholders' equity as of December 31, 2020?

Presented below are balances taken from the records of Sanso Corporation, as of December 31, 2020: 10% Preference Share Capital, cumulative, 100 par value = $1,000,000 Subscribed Preference Share Capital = $750,000 Subscriptions Receivable-Preference = $450,000 Ordinary Share Capital, 50 par value = $920,000 Subscribed Ordinary Share Capital = 650,000 Subscriptions Receivable-Ordinary = $220,000 Accumulated Profits = $2,410,000 Treasury Share-Ordinary, 500 shares = $35,000 How much is total shareholders' equity as of December 31, 2020?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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