Cyclone Corporation was authorized to issued 1, 000 shares of P100 par, 8% cumulative preference share and 100, 000 shares par ordinary share. The equity account balances at December 31, 2012 are as follows: Cumulative preference share P 50, 000 Ordinary share 90, 000 Share premium 9, 000 Retained Earnings 13, 000 Treasury stock, ordinary – 100 shares at cost ( 2, 000) P 160, 000 Dividends on preference shares are in arrears for the year 2011. The book value of a share of ordinary share at December 31, 2012 should be a. P117.80 c. P137.50 b. P127.50 d. P113.33
Cyclone Corporation was authorized to issued 1, 000 shares of P100 par, 8% cumulative preference share and 100, 000 shares par ordinary share. The equity account balances at December 31, 2012 are as follows: Cumulative preference share P 50, 000 Ordinary share 90, 000 Share premium 9, 000 Retained Earnings 13, 000 Treasury stock, ordinary – 100 shares at cost ( 2, 000) P 160, 000 Dividends on preference shares are in arrears for the year 2011. The book value of a share of ordinary share at December 31, 2012 should be a. P117.80 c. P137.50 b. P127.50 d. P113.33
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Cyclone Corporation was authorized to issued 1, 000 shares of P100 par,
8% cumulative
Cumulative preference share | P 50, 000 |
Ordinary share | 90, 000 |
Share premium | 9, 000 |
|
13, 000 |
at cost |
( 2, 000) |
P 160, 000 |
Dividends on preference shares are in arrears for the year 2011. The book
value of a share of ordinary share at December 31, 2012 should be
a. P117.80 c. P137.50
b. P127.50 d. P113.33
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