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Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below: 2020 P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Assets Cash Marketable Securities Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation 2019 P 45,000 60,000 60,000 70,000 300,000 (45,000) P490,000 Total Assets Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.

Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below: 2020 P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Assets Cash Marketable Securities Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation 2019 P 45,000 60,000 60,000 70,000 300,000 (45,000) P490,000 Total Assets Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.

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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Compute the following:

5. Assuming that on July 1, 2020, Kangaroo Company purchased its own share at
P10.00. How much is the book value per share for the year 2020?
6. Assuming that there is a cumulative and participating preference share, how this
will affect the book value per share computation? Explain briefly.

Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below: Assets Cash Marketable Securities 2019 2020 Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation Total Assets P 45,000 60,000 60,000 70,000 300,000 (45,000) P490,000 P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.
Transcribed Image Text:Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below: Assets Cash Marketable Securities 2019 2020 Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation Total Assets P 45,000 60,000 60,000 70,000 300,000 (45,000) P490,000 P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.
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