Please answer only 10, 11, 12 Requirements:C. Prepare all necessary entries for the year.D. Compute or provide the answers for the following:8. What is the balance of preference share capital at year-end?9. What is the balance of ordinary share capital at year-end?10. What is the total balance of treasury shares at year-end?11. What is the total outstanding ordinary shares at year-end?12. What is the total issued shares at year-end (add preference and ordinary)13. How much is the balance of the shareholders' equity at year-end?14. How much is the total legal capital?15. How much the total contributed capital? GRAPES Company provided the following data for the year:Sold 25,000 preference shares, 12%, P50 par, at P75• Sold 80,000 ordinary shares of P10, par at P45.• Purchased and retired 10,000 preference shares at P60• Purchased 5,000 shares at P40 to be held as treasury• Sold 3,000 treasury ordinary shares at P50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for P20Retired 500 treasury ordinary shares• Net income for the year was P2,500,000• Appropriated retained earnings equal to the balance of treasury shares.

Treasury shares: A business has bounced back shares, taken them out of circulation, and inserted…

Answered: 10. What is the total balance of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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10. What is the total balance of treasury shares at year-end? 11. What is the total outstanding ordinary shares at year-end? 12. What is the total issued shares at year-end (add preference and ordinary)