Prepare the Statement of Shareholders’ Equity for ABC CORPORATION for the year ended December 31, 2020, using the following information: January 1, 2020 balances § 15% Preference Share Capital, P100 par value, authorized 25,000 shares, 6,000 shares issued, of which 250 shares are in treasury P600,000 § Ordinary Share Capital, P50 par value, authorized 40,000 shares, 9,000 shares issued 450,000 § Reserves 45,000 § Accumulated profits (includes appropriation for cost treasury shares, P25,500) 400,000 Summary of transactions during the year: § Appropriated for Plant Expansion P 90,000 § Appropriated for Treasury Shares 56,680 § Cash Dividend Declared 200,000 § Issued 15% Preference Share Capital 280,000 § Issued Ordinary Share Capital 230,000 § Net Income for the period 450,000 § Share premium-Donated Shares 5,250 § Share premium – Ordinary 7,000 § Share premium – Preference 5,250 § Share Dividend to be Issued – Ordinary 25,000 § Share Dividend to be Issued – Preference 72,500 § Subscribed Preference share capital 65,000 § Subscribed Ordinary Share Capital 70,000 § Share premium -Preference Share Dividend 5,800 § Share premium -Ordinary Share Dividend 3,250 § Subscription Receivable – Ordinary 22,400 § Subscription receivable – Preference 60,000 § Treasury Shares: Purchase of Preference shares – 600 shares at P104/share 62,400 Sale of Preference shares – 305 shares 30,500
Prepare the Statement of Shareholders’ Equity for ABC CORPORATION for the year ended December 31, 2020, using the following information:
January 1, 2020 balances |
|
|
§ 15% |
P600,000 |
|
§ Ordinary Share Capital, P50 par value, authorized 40,000 shares, 9,000 shares issued |
450,000 |
|
§ Reserves |
45,000 |
|
§ |
400,000 |
|
|
|
Summary of transactions during the year: |
|
|
§ Appropriated for Plant Expansion |
P 90,000 |
|
§ Appropriated for Treasury Shares |
56,680 |
|
§ Cash Dividend Declared |
200,000 |
|
§ Issued 15% Preference Share Capital |
280,000 |
|
§ Issued Ordinary Share Capital |
230,000 |
|
§ Net Income for the period |
450,000 |
|
§ Share premium-Donated Shares |
5,250 |
|
§ Share premium – Ordinary |
7,000 |
|
§ Share premium – Preference |
5,250 |
|
§ Share Dividend to be Issued – Ordinary |
25,000 |
|
§ Share Dividend to be Issued – Preference |
72,500 |
|
§ Subscribed Preference share capital |
65,000 |
|
§ Subscribed Ordinary Share Capital |
70,000 |
|
§ Share premium -Preference Share Dividend |
5,800 |
|
§ Share premium -Ordinary Share Dividend |
3,250 |
|
§ Subscription Receivable – Ordinary |
22,400 |
|
§ Subscription receivable – Preference |
60,000 |
|
§ Treasury Shares: |
|
|
Purchase of Preference shares – 600 shares at P104/share |
62,400 |
|
Sale of Preference shares – 305 shares |
30,500 |
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