The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares, P200 par, 15,000 shares issued and outstanding - 93,000,000 • Ordinary shares, P30 par, 250,000 shares issued and outstanding – P7,500,000 Share premium, preference - P900,000 Share premium, ordinary – P750,000 Retained earnings - P2,100,000 The following selected transactions relating to shareholders' equity were noted in 2021: a. Purchased and retired 2,000 preference shares at P280 each b. Purchased 30,000 of its own ordinary shares at P35 per share c. Reissued 5,000 treasury shares at P38 per share. d. Shareholders donated to the company 20,000 ordinary shares when the market price is P36 per share. e. One-half of the donated shares were issued for P39 each. f. Profit for 2021 was P1,850,000 The BOD declared and paid the regular annual dividend on the preference shares and P1.50 dividend per ordinary share.

The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares, P200 par, 15,000 shares issued and outstanding - 93,000,000 • Ordinary shares, P30 par, 250,000 shares issued and outstanding – P7,500,000 Share premium, preference - P900,000 Share premium, ordinary – P750,000 Retained earnings - P2,100,000 The following selected transactions relating to shareholders' equity were noted in 2021: a. Purchased and retired 2,000 preference shares at P280 each b. Purchased 30,000 of its own ordinary shares at P35 per share c. Reissued 5,000 treasury shares at P38 per share. d. Shareholders donated to the company 20,000 ordinary shares when the market price is P36 per share. e. One-half of the donated shares were issued for P39 each. f. Profit for 2021 was P1,850,000 The BOD declared and paid the regular annual dividend on the preference shares and P1.50 dividend per ordinary 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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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

How many ordinary shares are issued and outstanding respectively as of December 31, 2021?

The capital structure of THOR Company on December 31, 2020, is as follows:
12% Preference shares, P200 par, 15,000 shares issued and outstanding -P3,000,000
Ordinary shares, P30 par, 250,000 shares issued and outstanding – P7,500,000
Share premium, preference – P900,000
Share premium, ordinary – P750,000
Retained earnings – P2,100,000
The following selected transactions relating to shareholders' equity were noted in 2021:
a. Purchased and retired 2,000 preference shares at P280 each
b. Purchased 30,000 of its own ordinary shares at P35 per share
c. Reissued 5,000 treasury shares at P38 per share.
d. Shareholders donated to the company 20,000 ordinary shares when the market price is P36 per share.
e. One-half of the donated shares were issued for P39 each.
f. Profit for 2021 was P1,850,000
The BOD declared and paid the regular annual dividend on the preference shares and P1.50 dividend per ordinary
share.

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