Compute for the following with solution:1. Number of presefrence share subscribed2. Number of Ordinary share subscribed Problem 2: (Paid-In Capital is also called Share Premium)Shown below are account balances found in the ledger of Emerald Green Corporation atthe end of 2014:P720,000364,000Subscription Receivable - Preference SharesSubscription Receivable - Ordinary Share10% Preference Share Capital, P50 par value,authorized, 100,000 sharesIssuedSubscribedP 2,880,0001,440,0004,320,000Ordinary Share Capital, no par, P10 stated value,authorized, 300,000 sharesP 2,720,000560,000Issued3,280,000SubscribedPaid-In Capital in Excess of Par or Stated ValuePréference share432,000656,000P.Ordinary share1,088,000

The question is related to number of Preference Share and Ordinary Shares subscribed.

Answered: Compute for the following with…

Compute for the following with solution: 1. Number of presefrence share subscribed 2. Number of Ordinary share subscribed

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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Problem 2: (Paid-In Capital is also called Share Premium) Shown below are account balances found in the ledger of Emerald Green Corporation at the end of 2014: 720,000 364,000 Subscription Receivable- Preference Shares Subscription Receivable- Ordinary Share 10% Preference Share Capital, P50 par value, authorized, 100,000 shares P 2,880,000 1,440,000 Issued Subscribed 4,320,000 Ordinary Share Capital, no par, P10 stated value, authorized, 300,000 shares Issued Subscribed P 2,720,000 560,000 3,280,000 Paid-In Capital in Excess of Par or Stated Value Préference share Ordinary share 432,000 656,000 P. 1,088,000 Instructions: Compute for each of the item shown below. Present supporting computation in good form in a separate work sheet. 1. Number of preference share issued. 2. Number of ordinary shares issued. 3. Number of preference shares subscribed. 4. Number of ordinary shares subscribed. Average price per share received by the corporation on its preference share capital including…
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G. Shown below are account balances found in the ledger of Honesty Corporation at the end of year 2018: Subscription Receivable-Preference Share Subscription Receivable-Ordinary Share P 360,000 182,000 8% Preference Share Capital, P 50 par value, 80,000 shares authorized Issued P 1,440,000 Subscribed 720,000 2,160,000 Ordinary Share Capital, no par, P 10 stated value 320,000 shares authorized Issued P 1,360,000 Subscribed 280,000 1,640,000 Additional Paid In Capital Preference Share Premium P 216,000 Paid-In Capital In Excess of Stated Value 328,000 544,000 Required: Compute for the following: 1) Number of Preference shares issued 2) Number of Ordinary shares issued 3) Number of subscribed preference shares 4) Number of subscribed ordinary shares 5) Average price per share received by the corporation on its preference share capital including subscribed shares 6) Average price per share received by the corporation on its ordinary share capital including subscribed shares 7) Average…
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ILLUSTRATION 8. Following figures appeared in the Balance Sheet of Pure Products Ltd. as on 31-03-2016: 31-03-2015 31-03-2016 $ Equity Share Capital ($10 each) 2,90,000 3,35,000 Less : Calls-in-arrears 3,000 1,000 2,87,000 3,34,000 Add : Forfeited Share Account 8,000 4,000 2,95,000 3,38,000 6% Preference Share Capital ($100 share) 1,00,000 50,000 Capital Reserve 7,000 17,500 Securities Premium Reserve Account 12,000 2,000 General Reserve 1,20,000 80,000 Capital Redemption Reserve Account 60,000 Additional information During 2015-16, 4,000 new equity shares of $ 10 each and 500, 6% preference shares of $100 each both were issued at par and in either case there were no calls-in-arrears. (i) Preference shares are redeemable at a premium of 10%. Calls-in-arrears represent final call money @ $2 per share. Reissue of forfeited shares, if made, was @ $9 share. (ii) (iii) (iv) Capital Reserve Account balance on 31-3-2015 and 31-3-2016 indicated only profits arising out of reissue of forfeited…
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Es Tri Company provided the following information from a comparative statement of financial position: Es Tri Company provided the following information from a compara December 31, 2024 December 31, 2023 Share capital, P5 par 7,500,000 4,500,000 Share premium 52,000,000 40,000,000 Retained earnings 19,500,000 15,500,000 Treasury shares, at cost, 600,000 shares on December 31, 2024 and 400,000 shares on December 31, 2023. 7,000,000 5,000,000 What is the number of outstanding shares on December 31, 2024?
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The equity section of CFAS Company revealed the following information on December 31, 2022: Preference share capital, P100 par P5,000,000 Share premium-preference shares 2,000,000 Ordinary share capital, P50 3,200,000 Share premium-ordinary shares 421,076 Subscribed ordinary share capital 800,000 Retained earnings-appropriated Subscription receivable-ordinary shares 250,000 400,000 Retained earnings- unappropriated 3,500,000 Treasury shares-ordinary 1,000,000 How much is the contributed capital of CFAS Company as of December 31, 2022?
Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?
The shareholders’ equity section of JAO Co. revealed the ff. on Dec. 31, 2015: Preference share (P100 par) P2,300,000; Share Premium – Preference: P805,000; Ordinary share (P15 par) P5,250,000; Share Premium – Ordinary: P2,750,000; Subscribed ordinary shares: P50,000; Accumulated Profits and losses: P1,900,000. How much is the legal capital? a. P13,055,000 b. P7,600,000 c. P7,550,000 d. P11,150,000