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Cabuslay Company showed the following shareholders’ equity on December 31, 2021:   Ordinary share capital, P100 par                                                              2,000,000 Preference share capital, 8% P50 par, cumulative and participating        2,500,000 Preference share capital, 10% P50 par, noncumulative       and participating                                                                                  1,500,000 Retained earnings                                                                                        270,000   Dividends are in arrears for two years, and preference share has preference as to assets. Compute the Book value per ordinary share

Cabuslay Company showed the following shareholders’ equity on December 31, 2021:   Ordinary share capital, P100 par                                                              2,000,000 Preference share capital, 8% P50 par, cumulative and participating        2,500,000 Preference share capital, 10% P50 par, noncumulative       and participating                                                                                  1,500,000 Retained earnings                                                                                        270,000   Dividends are in arrears for two years, and preference share has preference as to assets. Compute the Book value per ordinary share

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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  1. Cabuslay Company showed the following shareholders’ equity on December 31, 2021:

 

Ordinary share capital, P100 par                                                              2,000,000

Preference share capital, 8% P50 par, cumulative and participating        2,500,000

Preference share capital, 10% P50 par, noncumulative 

     and participating                                                                                  1,500,000

Retained earnings                                                                                        270,000

 

Dividends are in arrears for two years, and preference share has preference as to assets.

Compute the Book value per ordinary share

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