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he net income for the year ended December 31, 2020 was P6,000,000 and no dividends were declared. What is the December 31, 2020 book value per ordinary shares? (Round answer to a whole number

he net income for the year ended December 31, 2020 was P6,000,000 and no dividends were declared. What is the December 31, 2020 book value per ordinary shares? (Round answer to a whole number

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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ABC Company was organized on January 1, 2020 with the following capital structure: 

10% cumulative preference share capital, par value P10, liquidation value P12, authorized, issued and outstanding 100,000 shares, P1,000,000

Ordinary share capital, par value P100, authorized 40,000 shares, issued and outstanding 30,000 shares, P3,000,000

The net income for the year ended December 31, 2020 was P6,000,000 and no dividends were declared.

What is the December 31, 2020 book value per ordinary shares? (Round answer to a whole number)

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