13 The following accounts appear in the trial balance of DAVAO EAGLE Corporation as of December 31, 2019: Redeemable Preference Share Capital, par P100, authorized 50,000 P1,700,000 shares Subscribed Preference Share Capital Subscription Receivable, Preference Shares Authorized Ordinary Share Capital, P100 stated value Unissued Ordinary Share Capital Ordinary Share Premium Preference Share Premium Treasury Shares (500 ordinary shares) 200,000 150,000 1,000,000 500,000 55,000 300,000 60,000 Direction: For each class of stock, compute for the authorized number of shares, issued shares, unissued shares, issued and outstanding shares, subscribed shares, still available for subscription, legal capital.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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equity section of the corporation.
12 The following accounts appear in the trial balance of DAVAO EAGLE Corporation as of
December 31, 2019:
Redeemable Preference Share Capital, par P100, authorized 50,000 P1,700,000
shares
Subscribed Preference Share Capital
Subscription Receivable, Preference Shares
Authorized Ordinary Share Capital, P100 stated value
Unissued Ordinary Share Capital
Ordinary Share Premium
Preference Share Premium
200,000
150,000
1,000,000
500,000
55,000
300,000
60,000
Treasury Shares (500 ordinary shares)
Direction:
For each class of stock, compute for the authorized number of shares, issued shares,
unissued shares, issued and outstanding shares, subscribed shares, still available for
subscription, legal capital.
14. To continue with problem 13, assume the following transactions took place during 2020:
Jan. 10
One halí of the subscriptions receivable were collected and certificates of
stock issued for 1,000 shares.
Remaining subscriptions were declared delinquent and the corresponding
chares put up
A bidder for 300 shares paid the amount due plus accrued interest of P750
and the corresponding certificates were issued.
A stockholder received 2,000 preferred shares with a market value of P200
20
for public auction. Advertising paid, P5,500.
25
31
Transcribed Image Text:equity section of the corporation. 12 The following accounts appear in the trial balance of DAVAO EAGLE Corporation as of December 31, 2019: Redeemable Preference Share Capital, par P100, authorized 50,000 P1,700,000 shares Subscribed Preference Share Capital Subscription Receivable, Preference Shares Authorized Ordinary Share Capital, P100 stated value Unissued Ordinary Share Capital Ordinary Share Premium Preference Share Premium 200,000 150,000 1,000,000 500,000 55,000 300,000 60,000 Treasury Shares (500 ordinary shares) Direction: For each class of stock, compute for the authorized number of shares, issued shares, unissued shares, issued and outstanding shares, subscribed shares, still available for subscription, legal capital. 14. To continue with problem 13, assume the following transactions took place during 2020: Jan. 10 One halí of the subscriptions receivable were collected and certificates of stock issued for 1,000 shares. Remaining subscriptions were declared delinquent and the corresponding chares put up A bidder for 300 shares paid the amount due plus accrued interest of P750 and the corresponding certificates were issued. A stockholder received 2,000 preferred shares with a market value of P200 20 for public auction. Advertising paid, P5,500. 25 31
5,000 preferred shares were redeemed at a price of P120 per share.
1) Prepare a table tracking down the movement of the stocks, one each for the
A shareholder paid P70,000 for 500 common shares.
Feb. 8
300 treasury shares were sold for P45,000.
20
28
Mar. 1
100 treasury shares were sold for P10,000.
Direction:
preferred and common. Start with the December 31 balances.
2) Journal entries
) Prepare the shareholders' equity section as of March 31, 2016.
4)
1 of each class of stock, answer the same requirements as in Exercise 13.
Transcribed Image Text:5,000 preferred shares were redeemed at a price of P120 per share. 1) Prepare a table tracking down the movement of the stocks, one each for the A shareholder paid P70,000 for 500 common shares. Feb. 8 300 treasury shares were sold for P45,000. 20 28 Mar. 1 100 treasury shares were sold for P10,000. Direction: preferred and common. Start with the December 31 balances. 2) Journal entries ) Prepare the shareholders' equity section as of March 31, 2016. 4) 1 of each class of stock, answer the same requirements as in Exercise 13.
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