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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![36.At the end of the accounting year, December 31, 2007, Emme's records
reflected the following:
Common stock, no par, 5,000 shares issued, issue price P12 per share
Preferred stock, par P5, 1,000 shares issued and outstanding; issue price, P15
per share
Unrealized gain, available-for-sale securities, P18,000
Retained earnings, P20,000 (unappropriated)
Preferred stock, par P5, subscribed (not yet issued), 400 shares; subscription
price P20 per share
Subscriptions receivable on the preferred stock P5,000 to be collected on
January 1, 2008
Reserve for bond sinking fun, P15,000
Treasury stock, common stock, 1,000 shares, cost P10 per share
Total stockholders' equity is:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F144b09da-feeb-4f5b-a207-388555571337%2F6ab0d9ed-1d27-4a19-ad31-d077f548092e%2Ftmdmr6f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:36.At the end of the accounting year, December 31, 2007, Emme's records
reflected the following:
Common stock, no par, 5,000 shares issued, issue price P12 per share
Preferred stock, par P5, 1,000 shares issued and outstanding; issue price, P15
per share
Unrealized gain, available-for-sale securities, P18,000
Retained earnings, P20,000 (unappropriated)
Preferred stock, par P5, subscribed (not yet issued), 400 shares; subscription
price P20 per share
Subscriptions receivable on the preferred stock P5,000 to be collected on
January 1, 2008
Reserve for bond sinking fun, P15,000
Treasury stock, common stock, 1,000 shares, cost P10 per share
Total stockholders' equity is:
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