ABC Co. has authorized share capital of 10,000 8% preference shares with P100 par value and 100,000 ordin P10 par value. ABC Co. reported this on December 31, 2020: Preference share capital Ordinary share capital Share premium Retained Earnings Treasury ordinary shares es - 1, 000 at cost Shareholders ' equity 500,000 900,000 90,000 138,000 (20,000) P1,608,0 P Dividends on preference shares are in arrears for the curn If ABC Co. is liquidated, how much would be received by

ABC Co. has authorized share capital of 10,000 8% preference shares with P100 par value and 100,000 ordin P10 par value. ABC Co. reported this on December 31, 2020: Preference share capital Ordinary share capital Share premium Retained Earnings Treasury ordinary shares es - 1, 000 at cost Shareholders ' equity 500,000 900,000 90,000 138,000 (20,000) P1,608,0 P Dividends on preference shares are in arrears for the curn If ABC Co. is liquidated, how much would be received by

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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Endless Company provided the following shareholders Problem 18-2 (ACP) equity on December 31, 2021: Preference share capital, l12% P100 par Ordinary share capital, P100 Share premium Retained earnings 1,000,000 4,000,000 2,000,000 1,000,000 Dividends have been paid on the preference share un in December 31, 2019. Required: Compute the book value per ordinary share and pen preference share under each of the following conditions with respect to preference share: a. Cumulative and fully participating b. Cumulative and fully participating after ordinary share receives 15%: c. Cumulative and participating up to l16% d. Cumulative and nonparticipating e. Noncumulative and nonparticipating
At December 31, 2019 and 2018, New Corporation had outstanding 4,000 shares of P 100 par 12% cumulative, fully participating participating Preference share capital and 20,000 shares of P10 par value Ordinary Share capital. At December 31, 2018, dividends in arrears on the Preference share were P 24,000. Cash dividends declared in 2019 totaled P 108,000. a. How much is the dividend per share for Ordinary Share Capital? b. how much is the dividend per share for the Preference Share Capital?
The shareholder' equity of L Corp on Dec 31, 2021 follows: 10% Preference share capital P100 par, 45,000 shares P4,500,000 Ordinary share capital, P20 par, 180,000 shares P3,600,000 Preference share premium P1,000,000 Ordinary share premium P900,000 Retained Earnings P5,390,000 Total shareholder's equity P15,390,000 Preference share are cumulative with dividends in arrears for 2 years with a liquidation value of P110. What is the book value per share of preference share capital?
How much is the total share premium on December 31, 2020?
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
1. see image for the question and statmentchoices: a. 176,000b. 263,000c. 204,000d. 321,000
The J3 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, non-cumulative and fully participating, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared. How much dividends will be received by the preference shares holders?
On January 01, 2021, ABC Corporation provided you the following information: Ordinary share capital, 300,000 shares issued, P10 par 3,000,000 Preference share capital, 400,000 shares issued, P20 par 8,000,000 Share premium – ordinary shares 1,200,000 Share premium – preference 2,000,000 Retained earnings 6,000,000 Share transactions for the year 2021: March 10 – Reacquired 80,000 preference shares at P35 per share April 20 – Reissued 30,000 preference treasury shares at P43 per share April 25 - Reissued 10,000 preference treasury shares at P30 per share May 13 – Retired 20,000 preference treasury shares. Journal entry on May 13 should include a.Debit share premium – treasury shares – 200,000 b.Debit retained earnings – 200,000…
The J3 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, non-cumulative and fully participating, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared. How much dividends will be received by the preference shares holders? *