1. At December 31, the Shareholders’ Equity section shows: Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000 Share Premium-Ordinary P1,400,000 Retained Earnings P 500,000 Treasury Shares, at cost, 120,000 shares P 700,000 The book value per share of Ordinary Share is: a. P5.91 b. P6.44 c. P6.50 d. P7.08
1. At December 31, the Shareholders’ Equity section shows: Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000 Share Premium-Ordinary P1,400,000 Retained Earnings P 500,000 Treasury Shares, at cost, 120,000 shares P 700,000 The book value per share of Ordinary Share is: a. P5.91 b. P6.44 c. P6.50 d. P7.08
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 5MCQ
Related questions
Question
1. At December 31, the Shareholders’ Equity section shows:
Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000
Share Premium-Ordinary P1,400,000
Treasury Shares, at cost, 120,000 shares P 700,000
The book value per share of Ordinary Share is:
a. P5.91
b. P6.44
c. P6.50
d. P7.08
2. Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par valuepreferred stock having a market value of P20 per share for a lump sum of P480,000. How much of the proceeds would be allocated to the common stock?
2. Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value
a. P250,000
b. P255,000
c. P218,182
d. P50,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Corporate Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781305653535/9781305653535_smallCoverImage.gif)
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Accounting (Text Only)](https://www.bartleby.com/isbn_cover_images/9781285743615/9781285743615_smallCoverImage.gif)
Accounting (Text Only)
Accounting
ISBN:
9781285743615
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning