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PURPLE Corporation was corporated at the beginning of e current year and provided the lowing information: *

PURPLE Corporation was corporated at the beginning of e current year and provided the lowing information: *

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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PURPLE Corporation was incorporated at the beginning of the current year and provided the following information: * Jan. 11 Number of shares authorized 200,000 130,000 Number of shares issued Number of shares reacquired but not canceled Number of retired reacquired shares Number of sold reacquired shares Three for one share split Feb.14 Jun. 6 12,000 Jul. 24 1,500 Aug. 7 Oct.17 4,200 How many shares were issued and outstanding? Issued - 385,500; Outstanding - 366,600 Issued - 390,000; Outstanding - 383,700 Issued - 390,000; Outstanding - 371,100 Issued - 385,500; Outstanding - 379,200
Transcribed Image Text:PURPLE Corporation was incorporated at the beginning of the current year and provided the following information: * Jan. 11 Number of shares authorized 200,000 130,000 Number of shares issued Number of shares reacquired but not canceled Number of retired reacquired shares Number of sold reacquired shares Three for one share split Feb.14 Jun. 6 12,000 Jul. 24 1,500 Aug. 7 Oct.17 4,200 How many shares were issued and outstanding? Issued - 385,500; Outstanding - 366,600 Issued - 390,000; Outstanding - 383,700 Issued - 390,000; Outstanding - 371,100 Issued - 385,500; Outstanding - 379,200
LAVENDER Corporation issued 20,000 shares of its P70 par value ordinary share capital and 8,000 of its P80 par value preference share capital for a total amount of P1,800,000. At this date, the company's ordinary shares are selling at P80 per share and the preference shares are at P100 per share. What amount of the proceeds should be allocated to the preference shares? * P 640,000 P 800,000 P 400,000 P 600,000
Transcribed Image Text:LAVENDER Corporation issued 20,000 shares of its P70 par value ordinary share capital and 8,000 of its P80 par value preference share capital for a total amount of P1,800,000. At this date, the company's ordinary shares are selling at P80 per share and the preference shares are at P100 per share. What amount of the proceeds should be allocated to the preference shares? * P 640,000 P 800,000 P 400,000 P 600,000
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