Consolidated vs consolidating balance sheet

27-Jun-2019 16:21 by 3 Comments

Consolidated vs consolidating balance sheet - New 100 free online dating sex hookup sites

For non-stock educational corporation, the number of trustees must be at least five (5) but not more than fifteen (15) and the number of trustees must be in multiples of five (5).

Confirmation is required because the Corporation Code of the Philippines, Sec.A corporation with authorized capital stock dividend into shares of stock either with or without par value.A stock corporation is engaged in income generating activities and is authorized to declare dividends. It is organized for charitable, religious, educational, professiona, cultural, fraternal, literary, scientific, social civil service, or similar purposes, like trade, industry, agricultural and like chambers, or any combinations thereof.The foregoing amount however shall not apply, if there is a law, rule or regulation of other regulatory agencies requiring a higher minimum paid-up capital. 62 of the Corporation Code, stocks shall not be issued for a consideration less than the par or issued price thereof.Consideration for the issuance of stock may be any or a combination of any two or more of the following: (1)Actual cash paid to the corporation; (2)Property, tangible or intangible, actually received by the corporation and necessary or convenient for its use and lawful purposes at a fair valuation equal to the par or issued value of the stock issued; (3)Labor performed for or services actually rendered to the corporation; (4)Previously incurred indebtedness of the corporation; (5)Amounts transferred from unrestricted retained earnings to stated capital; and (6)Outstanding shares exchanged for stocks in the event of reclassification or conversion.All incorporators must be natural persons, of legal age, their number must be at least five (5) and not more than fifteen (15), every incorporator is subscriber of at least one share, and majority of the incorporators are residents of the Philippines.

For a stock corporation, the number of directors must be at least five (5) but not more than fifteen (15).

i)If it be a non-stock corporation, the amount of its capital, the names, nationalities of the contributors and the amount contributed by each j)The name of the treasurer-in-trust k)Tranfer clause l)Such other matters as are not inconsistent with law and which the incorporators may deem necessary and convenient Yes.

The Corporation Code of the Philippines provides in Section 18 that no corporate name may be allowed by the SEC if the proposed name is identical or deceptively or confusingly similar to that of any existing corporation or to any other name already protected by law or is patently deceptive, confusing or contrary to existing laws.

18 provides that No corporate name may be allowed by the Securities and Exchange Commission if the proposed name is identical or deceptively or confusingly similar to that of any existing corporation or to any other name already protected by law or is patently deceptive, confusing or contrary to existing laws.

Compliance therewith compels us to personally determine if reserve names are not deceptively or confusingly similar or patently deceptive or confusing to other registered entities.

Affidavit of Non-Tenancy executed by Barangay Chairman of place where the property is located 6.