Q. On August 1, 2018, Queen Corporation, a newly formed company had the following shares issued and outstanding: Preference Shares, P 50 par, 12,000 shares originally issued at P 65 Ordinary Shares, P 20 par, 25,000 shares originally issued at P 35 How should Queen shareholders' equity report the following? 1) Preference Share Capital 2) Ordinary Share Capital 3) Total Additional Paid in Capital Total Contributed Capital 4)

Q. On August 1, 2018, Queen Corporation, a newly formed company had the following shares issued and outstanding: Preference Shares, P 50 par, 12,000 shares originally issued at P 65 Ordinary Shares, P 20 par, 25,000 shares originally issued at P 35 How should Queen shareholders' equity report the following? 1) Preference Share Capital 2) Ordinary Share Capital 3) Total Additional Paid in Capital Total Contributed Capital 4)

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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Question

Q.
On August 1, 2018, Queen Corporation, a newly formed company had the following shares issued and
outstanding:
Preference Shares, P 50 par, 12,000 shares originally issued at P 65
Ordinary Shares, P 20 par, 25,000 shares originally issued at P 35
How should Queen shareholders' equity report the following?
1) Preference Share Capital
2)
Ordinary Share Capital
3)
Total Additional Paid in Capital
4) Total Contributed Capital

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