Problem 2: (Paid-In Capital is also called Share Premium) Shown below are account balances found in the ledger of Emerald Green Corporation at the end of 2014: 720,000 364,000 Subscription Receivable- Preference Shares Subscription Receivable- Ordinary Share 10% Preference Share Capital, P50 par value, authorized, 100,000 shares Issued Subscribed P 2,880,000 1,440,000 4,320,000 Ordinary Share Capital, no par, P10 stated value, authorized, 300,000 shares Issued Subscribed P 2,720,000 560,000 3,280,000 Paid-In Capital in Excess of Par or Stated Value Préference share 432,000 656,000 P Ordinary share 1,088,000 Instructions: Compute for each of the item shown below. Present supporting computation in good form in a separate work sheet. 1. Number of preference share issued. 2. Number of ordinary shares issued. 3. Number of preference shares subscribed. 4. Number of ordinary shares subscribed. 5. Average price per share received by the corporation on its preference share capital including preference share capital subscribed. 6. Average price per share received by the corporation on its ordinary share capital including subscribed ordinary share capital.
Problem 2: (Paid-In Capital is also called Share Premium) Shown below are account balances found in the ledger of Emerald Green Corporation at the end of 2014: 720,000 364,000 Subscription Receivable- Preference Shares Subscription Receivable- Ordinary Share 10% Preference Share Capital, P50 par value, authorized, 100,000 shares Issued Subscribed P 2,880,000 1,440,000 4,320,000 Ordinary Share Capital, no par, P10 stated value, authorized, 300,000 shares Issued Subscribed P 2,720,000 560,000 3,280,000 Paid-In Capital in Excess of Par or Stated Value Préference share 432,000 656,000 P Ordinary share 1,088,000 Instructions: Compute for each of the item shown below. Present supporting computation in good form in a separate work sheet. 1. Number of preference share issued. 2. Number of ordinary shares issued. 3. Number of preference shares subscribed. 4. Number of ordinary shares subscribed. 5. Average price per share received by the corporation on its preference share capital including preference share capital subscribed. 6. Average price per share received by the corporation on its ordinary share capital including subscribed ordinary share capital.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer 4, 5 and 6
Transcribed Image Text:Problem 2: (Paid-In Capital is also called Share Premium)
Shown below are account balances found in the ledger of Emerald Green Corporation at
the end of 2014:
720,000
364,000
Subscription Receivable- Preference Shares
Subscription Receivable- Ordinary Share
10% Preference Share Capital, P50 par value,
authorized, 100,000 shares
P 2,880,000
1,440,000
Issued
Subscribed
4,320,000
Ordinary Share Capital, no par, P10 stated value,
authorized, 300,000 shares
Issued
Subscribed
P 2,720,000
560,000
3,280,000
Paid-In Capital in Excess of Par or Stated Value
Préference share
Ordinary share
432,000
656,000
P.
1,088,000
Instructions: Compute for each of the item shown below. Present supporting computation
in good form in a separate work sheet.
1.
Number of preference share issued.
2.
Number of ordinary shares issued.
3.
Number of preference shares subscribed.
4.
Number of ordinary shares subscribed.
Average price per share received by the corporation on its preference
share capital including preference share capital subscribed.
5.
6. Average price per share received by the corporation on its ordinary
share capital including subscribed ordinary share capital.
7.
Average amount per share that the subscribers of preference share
capital have not yet paid to the corporation.
8.
Average amount per share that ordinary share capital subscribers have
already paid on their subscriptions. Assume that ordinary share
capital were subscribed at P12.
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