Summit of Hope has an authorized capital of 10,000 shares of P100 par, 8% cumulative preference share and 20,000 shares of P100 par Ordinary Shares. The equity balances at December 31, 20x5 are as follows: Cumulative Preferred share P 500,000 capital Ordinary share capital 1,100,000 Share premium 200,000 Retained Earnings 260,000 Treasury Stock, ordinary- 1,000 (150,000) shares Dividends on preferred shares are in arrears for 20x4 and 20x5. 1. Compute for the Book Value of the Ordinary Shares per share 2. Compute for the Book Value of the Preferred Stock per share

Summit of Hope has an authorized capital of 10,000 shares of P100 par, 8% cumulative preference share and 20,000 shares of P100 par Ordinary Shares. The equity balances at December 31, 20x5 are as follows: Cumulative Preferred share P 500,000 capital Ordinary share capital 1,100,000 Share premium 200,000 Retained Earnings 260,000 Treasury Stock, ordinary- 1,000 (150,000) shares Dividends on preferred shares are in arrears for 20x4 and 20x5. 1. Compute for the Book Value of the Ordinary Shares per share 2. Compute for the Book Value of the Preferred Stock per share

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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The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925.000 Additional Paid in Capital 125,000 Retained Earnings 4,500,000 Shareholder's Equity 5,550,000 The following transactions took place: Aug 10-Reacquired 6,000 ordinary shares for treasury at P60 per share Aug 12- 2,500 treasury shares were sold at P62 per share Aug 20- Another 1,000 treasury shares were sold at P55 per share Aug 31- 1,000 treasury shares were retired Required: Journalize each transaction and compute for the new balance of Shareholder's Equity.
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) $8,000,000 Paid-In Capital in Excess of Par—Preferred Stock 440,000 Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) 20,000,000 Paid-In Capital in Excess of Par—Common Stock 2,280,000 Retained Earnings 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on…
Thunder Yard's total stockholders' Equity is P5,600.000, comprised of the following: • P1,000,000 in 8% cumulative preferred stock consisting of shares of P100 par value • P1,800,000 in Ordinary Shares of P5 par value per share issued at P8 • P1,600,000 in additional Paid in capital P1,200,000 in retained earnings There is a Dividend in Arrears for 2 years 1. Compute for Number of shares of Preferred Stock 2. Compute for Additional Paid In Capital: Preferred Stock 3. Book Value Per Share Ordinary Shares (Round-off Answer to two decimal places)
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Question: How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?
Olive Corporation has 75,000 outstanding shares of P5 par value ordinary share capital and 30,000 shares outstanding 5% P100 par value preference share capital. During October, the board of directors made the following dividend declarations: October 4 - Preference dividend, payable on January 7 to preference shareholders of record on December 15. October 21 - P3 per share dividend payable on January 7 to ordinary shareholders of record on December 15. Compute for the total cash dividends distributed to: Preference shareholders: Ordinary shareholders:
In Munn's Shareholders' equity, how many ordinary shares are outstanding?
The following information relate to the records of LEO CO. Authorized Ordinary Shares , 500,000 shares, P20 par Ordinary Share Capital P5,000,000 Ordinary Shares Subscribed Capital 2,400,000 Ordinary Shares Subscriptions Receivable 1,200,000 Ordinary Share Premium 1,480,000 The Ordinary Shares Subscribed of P2,400,000 refers to subscriptions made by 10 persons. Each of the ten subscribers subscribed to an equal number of shares at par and each one made a fifty percent payment on their subscriptions. Assuming four of the ten subscribers of LEO CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued? Group of answer choices none of the choices provided 48,000 shares 60,000 shares 120,000 shares