Problem 8-6 (Reconstruction of Shown below and on the next page are account balances found in the ledger of Humility Corporation at the end of 2014: P 360,000 182,000 Subscription Receivable - Preference Share Subscription Receivable - Ordinary Share 8% Preference Share Capital, P50 par value, authorized, 80,000 shares Issued P 1,440,000 720,000 2,160,000 Subscribed
Problem 8-6 (Reconstruction of Shown below and on the next page are account balances found in the ledger of Humility Corporation at the end of 2014: P 360,000 182,000 Subscription Receivable - Preference Share Subscription Receivable - Ordinary Share 8% Preference Share Capital, P50 par value, authorized, 80,000 shares Issued P 1,440,000 720,000 2,160,000 Subscribed
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
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Question
Answer 4 to 6
![Problem 8-6 (Reconstruction of Transaction)
Shown below and on the next page are account balances found in the ledger of Humility
Corporation at the end of 2014:
P
360,000
182,000
Subscription Receivable - Preference Share
Subscription Receivable - Ordinary Share
8% Preference Share Capital, P50 par value, authorized,
80,000 shares
Issued
P 1,440,000
720,000
2,160,000
Subscribed](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F70c078fb-9d78-4a3b-953b-a0dedb72b4f4%2F0e0bf07d-7835-4bb1-b4b8-b57037447d92%2Fug6tngs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 8-6 (Reconstruction of Transaction)
Shown below and on the next page are account balances found in the ledger of Humility
Corporation at the end of 2014:
P
360,000
182,000
Subscription Receivable - Preference Share
Subscription Receivable - Ordinary Share
8% Preference Share Capital, P50 par value, authorized,
80,000 shares
Issued
P 1,440,000
720,000
2,160,000
Subscribed
![Ordinary Share Capital, no par, P10 stated value,
authorized, 320,000 shares
P 1,360,000
Issued
280,000
Subscribed
1.640,000
Paid-In Capital in Excess of Par or Stated Value
Р
216,000
Preference
328,000
Ordinary
544,000
Instructions: Compute for each of the items below.
Number of preference shares issued.
Number of ordinary shares issued.
1.
3.
Number of subscribed preference shares.
Number of subscribed ordinary shares.
Average price per share received by the corporation on its preference share
capital including subscribed shares..
6.
Average price per share received by the corporation on its ordinary share capital
including subscribed shares.
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 subscribers have already paid on
their subscriptions. Assume that ordinary shares were subscribed at P12.
2345](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F70c078fb-9d78-4a3b-953b-a0dedb72b4f4%2F0e0bf07d-7835-4bb1-b4b8-b57037447d92%2Fe14k2r8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ordinary Share Capital, no par, P10 stated value,
authorized, 320,000 shares
P 1,360,000
Issued
280,000
Subscribed
1.640,000
Paid-In Capital in Excess of Par or Stated Value
Р
216,000
Preference
328,000
Ordinary
544,000
Instructions: Compute for each of the items below.
Number of preference shares issued.
Number of ordinary shares issued.
1.
3.
Number of subscribed preference shares.
Number of subscribed ordinary shares.
Average price per share received by the corporation on its preference share
capital including subscribed shares..
6.
Average price per share received by the corporation on its ordinary share capital
including subscribed shares.
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 subscribers have already paid on
their subscriptions. Assume that ordinary shares were subscribed at P12.
2345
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