I'm looking for some assistance in calculating the "unencumbered paid up capital" for this company:
Balance sheet shows:
share capital 243,000
contributed surplus 65,000
accumulated other comprehensive income 300
retained earnings (210,000)
Share Capital Section:
Common shares outstanding 120,000,000 worth $245,000 at beginning of year
Share purchase loans ($2,000)
Common shares outstanding 120,000,000 worth $243,000 at end of year
From all of the reading I've been doing online, I'm getting $243,000 as the paid up capital (which equals share capital).
However, the shareholder equity is only $98,000.
- Is the paid up capital equal to share capital?
- Is the PUC unecumbered? Is shareholder equity also unecumbered?
Thank you so much - I've been struggling to understand this on my own.