Metro Company provided the following data at year-end12% Preference share capital, 20,000 shares, P100 par value2,000,00014% Preference share capital, 10,000 shares, P300 par value3,000,000Ordinary share capital, 50,000 shares, P100 par value5,000,000Retained Earnings2,240,000Share Premium1,500,000The 12% preference share is cumulative and participating. The 14% preference share is noncumulativeand participating. Dividends are in arrears for 3 years.What is the book value per ordinary share?

solution given Ordinary share capital 5,000,000 Number of ordinary share 50,000…

Answered: Metro Company provided the following…

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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Micellar Company had the following available information as of December 31, 2021: Preferred Share Capital, 3% Php150 par value, cumulative, 80,000 shares authorized, 10,000 shares outstanding Php 1,500,000 Ordinary Share Capital, Php 100 par value, 100,000 shares authorized, 35,000 shares issued, 34,000 shares outstanding 3,500,000 Share Premium 2,500,000 Retained earnings (unadjusted balance) 3,100,000 Treasury Shares, 1,000 shares at cost (80,000) Additional Information: 1. On December 29, 2021, the BOD determined that the company has ample cash and decided to declare dividends amounting to Php120,000. 2. The company did not pay any dividends in 2020. 3. Net income for the year was Php2,700 000. The amount of net incomp and dividends declared are yet to be closed to the Retained Earrings account. Requirements: a) Determine the amount paid to the preference shareholders in 2021 b) Determine the amount paid to the ordinary shareholders in 2021 c) Determine the amount paid to the…
Thunder Yard's total stockholders' Equity is P5,600.000, comprised of the following: • P1,000,000 in 8% cumulative preferred stock consisting of shares of P100 par value • P1,800,000 in Ordinary Shares of P5 par value per share issued at P8 • P1,600,000 in additional Paid in capital P1,200,000 in retained earnings There is a Dividend in Arrears for 2 years 1. Compute for Number of shares of Preferred Stock 2. Compute for Additional Paid In Capital: Preferred Stock 3. Book Value Per Share Ordinary Shares (Round-off Answer to two decimal places)
The records of Alamo Corporation showed the following data Ordinary share capital, par P50 authorized 100,000 shares, issued 30,000 shares Compute the liability for dividends for each of the following independent case a The Board of Directors declared 15% cash dividend b The Board of Directors declared P5 cash dividend c The Board of Directors declared a merchandise dividends of P10 per share d The Board of Directors declared 25% stock dividends Stock are selling at P60 per share e The Board of Directors declared 10% stock dividends Stock are selling at P60 per share
Olive Corporation has 75,000 outstanding shares of P5 par value ordinary share capital and 30,000 shares outstanding 5% P100 par value preference share capital. During October, the board of directors made the following dividend declarations: October 4 - Preference dividend, payable on January 7 to preference shareholders of record on December 15. October 21 - P3 per share dividend payable on January 7 to ordinary shareholders of record on December 15. Compute for the total cash dividends distributed to: Preference shareholders: Ordinary shareholders:
How much will be the total shareholders' equity from the following: 6% Preference shares, P50 par, 10,000 shares authorized, 6,000 shares issued. Ordinary shares, P10 par, 80,000 shares authorized, 50,000 shares issued. Ordinary Share Premium - P120,000 Paid-in capital in excess of par, preference shares - P90,000 Retained earnings, Beg. Balance - P86,000 Net income for the year - P145,000 Cash dividend declared and paid -P70,000 Treasury Stock, 350 Ordinary shares, at Cost - P8,400
Compute the book value per 8% preference share
The J3 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, non-cumulative and fully participating, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared. How much dividends will be received by the preference shares holders?
The shareholders' equity of XYZ Corporation is presented as follows: 10% Preference Share, 2,000 shares outstanding P200,000; Ordinary Shares, 5,000 shares outstanding P100,000, Preference share premium P20,000; Ordinary share premium P25,000; Retained Earnings P450,000. If 350 shares of Preference Shares were retired at P125/share, how much will be credited to Cash?
The J3 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, non-cumulative and fully participating, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared. How much dividends will be received by the preference shares holders? *
he records of Alamko Corporation showed the following data: Ordinary share capital, par P10, authorised 1,000 000 shares, issued 300,000 3,000,000 Share Premium 300,000 Treasury shares, 10,000 at (150,000) cost Retained Earnings 5,000,000 The Board of Directors declared a 15% stock dividend. Stocks are selling at P15. The entry to record on the date of declarationis Select the correct response: Retained Earnings 652,500 Stock dividends for distribution 435.000 Share Premium 217,500 Retained Earnings 450,000 Stock dividends for distribution 450,000 Retained Earnings 435,000 Stock dividends for distribution 435,000 Retained Earnings 675,000 Stock dividends for O distribution 450,000 Share Premium 225,000
Ute Company reported the following capital structure during the current year: 5% cumulative preference share capital, par value P100, 25,000 shares issued and outstanding Ordinary Share capital, par value P35, 100,000 shares issued and outstanding The entity reported net income of P5,000,000 for the current year. The entity paid P125,000 in preference dividends in the current year. 7. What amount should be reported as the basic earnings per share? a. 48.75 b. 50.00 c. 51.25 2,500,000 3,500,000

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