The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of par ordinary) 160,000 Assume that subscription receivables are collectible within one year.

The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of par ordinary) 160,000 Assume that subscription receivables are collectible within one year.

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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