Problem 4 (Ada
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 4 (Adapted)
The shareholders equity of Joyce corporation on Dec. 31, 2018 shows the following account
balances:
10%
12% preference share, 12,000 shares, 100 par 1,200,000
Ordinary share, 20,000 shares, 40 par 800,000
Share premium 640,000
The 10% preference share is cumulative and fully participating, while the 12%
preference share is non-cumulative and fully participating. The last payment of dividends was
on Dec. 31, 2016. What is the book value per share of ordinary shares?
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