The shareholders' equity of HUE Corporation on December 31 of the current year is shown below. Dividends are in arrears for two years. 6% Preference Share Capital, P100 par, 10,000 authorized, issued 6,000 shares P 600,000 Ordinary Share Capital No-par, P25 stated value, authorized 20,000 shares; issued 10,000 shares of which 1,000 shares are in the treasury Share Premium - Ordinary, no-par 250,000 46,000 Share Premium - Preference 30,000 Accumulated Profits 132,000 Appropriated for Plant Expansion Appropriated for Treasury Shares Treasury Shares - ordinary no-par, 1,000 sh. at cost 35,000 30,000 30,000 Requirements: D. Compute for the ff: 7. a. Compute for the number of outstanding shares - preference b. Compute for the number of outstanding shares - ordinary 8. a. Compute the amount of the outstanding shares - preference b. Compute the amount of the outstanding shares - ordinary

Q: Describe the reasons why financial accounting is useful?

A: Financial accounting is a specific branch of accounting involving a process of recording,…

Q: How does analyzing more and diverse data around us help answer accounting questions? Give a specific…

A: Data Analyzing is most important factor for the process of accounting/ Auditing. More you analyze…

Q: Explain voluntary changes in accounting principle.

A: An accounting principle is a general guideline to follow when recording and reporting financial…

Q: Critically comment on Positive Accounting Theory (PAT) (

A: Accounting is a process that involves the recording of the transactions of financial nature.

Q: Analyze current major accounting research tools. Discuss the deductive, inductive, and pragmatic…

A: Accounting research looks at how people, businesses, and governments use accounting, as well as the…

Q: n your own words, what does relevance mean to you?  After tackling this topic, then research…

A: Relevance means the necessity of work at a specific point of time. Relevance means the work which we…

Q: Discuss all the concepts of accounting?

A: Accounting concepts are list of concepts which are require to be used by all kind of business to…

Q: Explain how and why some changes in accounting principle are reportedprospectively.

A: Changes in accounting principle: A change in accounting principle is said to be a change in a…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is