Question: How many preference shares were issued and outstanding?How many ordinary shares were issued and outstanding? Problem: The equity of The Baker's Box Corporation has the following information:1. 8% Preference shares, 100,000 shares authorized, issued and outstanding of P5,000,000.2. Ordinary shares, P10 par, 500,000 shares authorized, _shares issued and shares outstanding ofP2,300,000.3. Share premium - ordinary shares of P1,150,000.4. Treasury stock - ordinary shares, 20,000 shares at cost of P280,000.5. Total stockholders' equity is P15,270,000.

Preference Shares: These shares carry a preferential right over other shareholders to be paid first…

Answered: How many preference shares were issued…

Business

Accounting

How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?

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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Question

Question:

How many preference shares were issued and outstanding?
How many ordinary shares were issued and outstanding?

Problem: The equity of The Baker's Box Corporation has the following information:
1. 8% Preference shares, 100,000 shares authorized, issued and outstanding of P5,000,000.
2. Ordinary shares, P10 par, 500,000 shares authorized, _shares issued and shares outstanding of
P2,300,000.
3. Share premium - ordinary shares of P1,150,000.
4. Treasury stock - ordinary shares, 20,000 shares at cost of P280,000.
5. Total stockholders' equity is P15,270,000.

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.

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