On January 1, Rio Corporation received a charter from the government to issue 500,000 ordinary...
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On January 1, Rio Corporation received a charter from the government to issue 500,000 ordinary shares, 20 par value and 10,000 10% preference shares, 40 par value. As of March 31, the company has issued 80,000 ordinary shares at 29 and 4,000 preference shares at 46. On June 1, subscriptions were made for 12,000 ordinary shares at par with 30% down. How much is contributed capital as of June 1?
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