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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?

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?

FINANCIAL ACCOUNTING
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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Please answer only 13, 14, 15

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?
Transcribed Image Text: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 P20 Retired 500 treasury ordinary shares • Net income for the year was P2,500,000 • Appropriated retained earnings equal to the balance of treasury shares.
Transcribed Image Text: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 P20 Retired 500 treasury ordinary shares • Net income for the year was P2,500,000 • Appropriated retained earnings equal to the balance of treasury shares.
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