The shareholders' equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders' equity 500,000 600,000 1,000,000 ? 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders' equity h. Cost per treasury share 2.
The shareholders' equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders' equity 500,000 600,000 1,000,000 ? 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders' equity h. Cost per treasury share 2.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Equity
Transcribed Image Text:2.
The shareholders’ equity section of ABC Corporation as at Dec 31, 2021 appeared as follows:
6% Preference shares, P75 par, 200,000 shares authorized, 70,000
shares issued
Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares
issued and ? shares outstanding
Share premium – ordinary
Retained earnings
Total share capital and retained earnings
Less: Treasury stock – ordinary, 10,000 shares, at cost
Total shareholders’ equity
500,000
600,000
1,000,000
40,000
Required: Determine the following
Issue price of preference shares
b. Ordinary shares issued
c. Ordinary shares outstanding
d. Issue price of ordinary shares
e. Legal capital of the corporation
f.
а.
Contributed capital of the corporation
g. Total shareholders’ equity
h. Cost per treasury share
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