The partners of "La Universal, S. de RL unanimously agree to its transformation into a SA, for this purpose they will be incorporated into it
Mr. Guzmán and Mr. Suárez. Before the transformation, it is established to capitalize the existing surplus in proportion to the
Amount of contributions made by the original partners, who are:
Mr. Rodriguez 60% 300,000.00
Mr. Hernandez 40% 200,000.00
500,000.00
The company's financial position at the time of the transformation is as follows:
Universal, S. de R.L.
ASSETS LIABILITIES
banks $2,540.00 Various liability accounts
Various asset accounts 959,460.00
SHAREHOLDERS' EQUITY
Share Capital
Social parts
Legal reserve
Utility of exercise
Sum of Shareholders' Equity
TOTAL ASSETS $962,000.00 TOTAL LIABILITIES PLUS CAPITAL
The share capital of the new company is set at $1,164,500.00, consisting of 2,329 shares with a nominal value of $500.00 each,
subscribed in the following manner:
CAPITAL SHARES
Mr. Rodriguez 797
Mr. Hernandez 532
Mr. Guzman 600
Mr. Suarez 400
2329 -
The original partners intend to fully cover the value of their shares with the assets and economic rights that correspond to them.
of the distribution of the equity capital of the company being transformed and if it is not enough, the difference will be covered in cash immediately.
diate to have their shares released.
New shareholders immediately exhibit the legal minimum (20%) of the value of each share they subscribed and for the remainder, they agree
pay it back in one month.
It is agreed that new shareholders will cover a premium for
sale of shares equivalent to 50% of the determined surplus, payable in full in the first installment.
REQUESTED:
a) Prepare the accounting records for closing the books of the company being transformed.
b) Prepare the accounting records for opening the books in the new company.
c) Preparation of the statement of financial position after the transformation.
d) Prepare the financial position statement of the second transformation
Once the transformation is complete, they also decide to transform it into a SA DE CV
increasing by 20% the fixed capital which they decide to leave as is.
This capital is fully subscribed and the partners contribute only the legal minimum.