Homework Help is Here – Start Your Trial Now!
Business
Accounting
Problem 8-6 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 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
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
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 Issued P 1,360,000 Subscribed 280,000 1.640,000 Paid-In Capital in Excess of Par or Stated Value P 216,000 Preference Ordinary 328,000 544,000 Instructions: Compute for each of the items below. Number of preference shares issued. 1. 2. Number of ordinary shares issued. 3. Number of subscribed preference shares. Number of subscribed ordinary shares. 4. 5. 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.
Transcribed Image Text:Ordinary Share Capital, no par, P10 stated value, authorized, 320,000 shares Issued P 1,360,000 Subscribed 280,000 1.640,000 Paid-In Capital in Excess of Par or Stated Value P 216,000 Preference Ordinary 328,000 544,000 Instructions: Compute for each of the items below. Number of preference shares issued. 1. 2. Number of ordinary shares issued. 3. Number of subscribed preference shares. Number of subscribed ordinary shares. 4. 5. 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.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS