SCARLET Corporation has an authorized capital of 10,000 shares of 100 par, 8% cumulative preference share and 20,000 shares of P100 par ordinary share. The equity account balances at December 31, 2021 totaled #1,910,000 broken down as follows: P 500,000 Cumulative preference share capital Ordinary share capital 1,100,000 Share premium 200,000 Retained earnings 260,000 Treasury share, ordinary, 1,000 shares 150,000 Dividends on preference share are in arrears for 2020 and 2021
SCARLET Corporation has an authorized capital of 10,000 shares of 100 par, 8% cumulative preference share and 20,000 shares of P100 par ordinary share. The equity account balances at December 31, 2021 totaled #1,910,000 broken down as follows: P 500,000 Cumulative preference share capital Ordinary share capital 1,100,000 Share premium 200,000 Retained earnings 260,000 Treasury share, ordinary, 1,000 shares 150,000 Dividends on preference share are in arrears for 2020 and 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much is the book value per ordinary share on December 31, 2021?
![SCARLET Corporation has an authorized capital of 10,000 shares of $100 par, 8% cumulative preference
share and 20,000 shares of $100 par ordinary share. The equity account balances at December 31, 2021
totaled $1,910,000 broken down as follows:
Cumulative preference share capital
P 500,000
Ordinary share capital
1,100,000
Share premium
200,000
Retained earnings
260,000
Treasury share, ordinary, 1,000 shares
150,000
Dividends on preference share are in arrears for 2020 and 2021](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3b5bb0f9-9d01-4c21-812c-a0441cad039d%2F4766a45c-baa6-4a06-9194-84c1ed28797a%2F1iixbzf_processed.png&w=3840&q=75)
Transcribed Image Text:SCARLET Corporation has an authorized capital of 10,000 shares of $100 par, 8% cumulative preference
share and 20,000 shares of $100 par ordinary share. The equity account balances at December 31, 2021
totaled $1,910,000 broken down as follows:
Cumulative preference share capital
P 500,000
Ordinary share capital
1,100,000
Share premium
200,000
Retained earnings
260,000
Treasury share, ordinary, 1,000 shares
150,000
Dividends on preference share are in arrears for 2020 and 2021
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