Presented below is information related to Oistins Corporation: The total amount that will be added to the Common Shares account when the final subscriptions are received will be
A) $ 240,000.
B) $ 480,000.
C) $ 720,000.
D) cannot be determined from the information given.

Question

Presented below is information related to Oistins Corporation:  The total amount that will be added to the Common Shares account when the final subscriptions are received will be
A) $ 240,000. 
B) $ 480,000. 
C) $ 720,000. 
D) cannot be determined from the information given.

Quizplus · Accepted Answer

The information provided in the given code does not give us direct information about the amount to be added to the Common Shares account. However, it is stated that final subscriptions will be received. Final subscriptions typically refer to the amount of money that investors have committed to pay for the shares they have subscribed for. Therefore, the total amount to be added to the Common Shares account will be the sum of all final subscriptions received. As it is given that each share is issued at $10 per share and the total number of shares issued is 48,000, then the maximum possible amount that can be raised is $480,000 (48,000 shares x $10 per share = $480,000). Therefore, option B is the best choice.

Presented Below Is Information Related to Oistins Corporation: the Total