The capital structure of P Company at December 31, 2022 follows: 12% Preference share capital, Php 200 par, 15,000 shares issued and outstanding 3,000,000 Ordinary share capital, Php 30 par, 250,000 shares issued and outstanding 7,500,000 Share premium- preference 900,000 Share premium- ordinary 750,000 Retained earnings 2,100,000 The following selected transactions relating to shareholder’s equity were noted in 2023: a. Purchased and retired 2,000 preference shares at Php 280 each. b. Purchased 30,000 of its own ordinary shares at Php 35 per share. c. Reissued 5,000 treasury shares at Php 38 each. d. Shareholders donated to the company 20,000 ordinary shares when the market price is Php 36 per share. e. One half of the donated shares were issued for Php 39 each. f. Profit for 2023 was Php 1,850,000. g. The board of directors declared and paid the regular annual dividend on the preference share and Php 1.50 per ordinary share dividend. How many preference shares outstanding at December 31, 2023? a. 18,000 b. 17,000 c. 15,000 d. 13,000 How many ordinary shares are issued and outstanding, respectively at December 31, 2023? a. 250,000 and 215,000 b. 215,000 and 250,000 c. 250,000 and 285,000 d. 285,000 and 250,000 What is the total amount of dividends on preference and ordinary shares? a. 687,000 b. 634,500 c. 322,500 d. 312,000 How much is the total shareholder’s equity at December 31, 2023? a. 14,250,000 b. 14,435,500 c. 14,453,500 d. 14,500,000
The capital structure of P Company at December 31, 2022 follows:
12%
issued and outstanding 3,000,000
Ordinary share capital, Php 30 par, 250,000 shares issued
and outstanding 7,500,000
Share premium- preference 900,000
Share premium- ordinary 750,000
The following selected transactions relating to shareholder’s equity were noted in 2023:
a. Purchased and retired 2,000 preference shares at Php 280 each.
b. Purchased 30,000 of its own ordinary shares at Php 35 per share.
c. Reissued 5,000 treasury shares at Php 38 each.
d. Shareholders donated to the company 20,000 ordinary shares when the market price is Php 36 per share.
e. One half of the donated shares were issued for Php 39 each.
f. Profit for 2023 was Php 1,850,000.
g. The board of directors declared and paid the regular annual dividend on the preference share and Php 1.50 per ordinary share dividend.
How many preference shares outstanding at December 31, 2023?
a. 18,000
b. 17,000
c. 15,000
d. 13,000
How many ordinary shares are issued and outstanding, respectively at December 31, 2023?
a. 250,000 and 215,000
b. 215,000 and 250,000
c. 250,000 and 285,000
d. 285,000 and 250,000
What is the total amount of dividends on preference and ordinary shares?
a. 687,000
b. 634,500
c. 322,500
d. 312,000
How much is the total shareholder’s equity at December 31, 2023?
a. 14,250,000
b. 14,435,500
c. 14,453,500
d. 14,500,000
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