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December 31, 19x0 the balance sheet of Belle Co. disclosed total assets of P8,000,000, current liabilities of P1,500,000 and long-term debt of P2,400,000. Common stock outstanding amounted to 500,000 shares, while 100,000 shares of P10 par value preferred stock were outstanding. The retained earnings account indicated a deficit balance of P2,000,000. Belle's book value per share of common stock as of December 31, 19x0 is: (SHOW SOLUTION) a. P16.00 b. P 6.20 c. P12.20 d. P 8.20

December 31, 19x0 the balance sheet of Belle Co. disclosed total assets of P8,000,000, current liabilities of P1,500,000 and long-term debt of P2,400,000. Common stock outstanding amounted to 500,000 shares, while 100,000 shares of P10 par value preferred stock were outstanding. The retained earnings account indicated a deficit balance of P2,000,000. Belle's book value per share of common stock as of December 31, 19x0 is: (SHOW SOLUTION) a. P16.00 b. P 6.20 c. P12.20 d. P 8.20

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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December 31, 19x0 the balance sheet of Belle Co. disclosed total assets of P8,000,000, current liabilities of P1,500,000 and long-term debt of P2,400,000. Common stock outstanding amounted to 500,000 shares, while 100,000 shares of P10 par value preferred stock were outstanding. The retained earnings account indicated a deficit balance of P2,000,000. Belle's book value per share of common stock as of December 31, 19x0 is: (SHOW SOLUTION)

a. P16.00

b. P 6.20

c. P12.20

d. P 8.20

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