The stockholder's Equity of BOA Incorporated at January 1, 2015 was as follows: Ordinary shares, P25,150, 000 authorized 40,000 shares issued and outstanding 1, 000, 000 Share premium 240, 000 Retained Earnings-appropriated 450, 000 Retained Earnings-unappropriated 1, 550, 000 During 2015 the following transactions occurred Jan 4 Issued 16, 000 common shares for 40 per share. Feb 5 Noa subscribed 4,000 shares at a subscription price of 28 per share. Noa made a 50% dow payment June 6 Reacquired its own 11, 500 shares at 15 per share issued last January 4 Nov 24 Noa made its payment of his balance. The corporation issued the shares Dec 12 Reissue 1,500 treasury shares at 19 per share Dec 27 Declared P2 per share cash dividend Required: Outstanding shares Ending Balance of shareholder's equity

The stockholder's Equity of BOA Incorporated at January 1, 2015 was as follows: Ordinary shares, P25,150, 000 authorized 40,000 shares issued and outstanding 1, 000, 000 Share premium 240, 000 Retained Earnings-appropriated 450, 000 Retained Earnings-unappropriated 1, 550, 000 During 2015 the following transactions occurred Jan 4 Issued 16, 000 common shares for 40 per share. Feb 5 Noa subscribed 4,000 shares at a subscription price of 28 per share. Noa made a 50% dow payment June 6 Reacquired its own 11, 500 shares at 15 per share issued last January 4 Nov 24 Noa made its payment of his balance. The corporation issued the shares Dec 12 Reissue 1,500 treasury shares at 19 per share Dec 27 Declared P2 per share cash dividend Required: Outstanding shares Ending Balance of shareholder's equity

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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Can you help me answer this problem with a detailed solution so I can be able to understand it and learn further how to solve similar problems as this one? I'd prefer it if you'd present it with an excel and give some explanations to accompany it. Thank you so much in advance. Your help is greatly appreciated. PROBLEM: Alpha, Beta and Gamma are partners who have capital balances of $480,000, $500,000, and $180,000 respectively. P/L is distributed in the ratio of 4:2:1. Beta received $260,000 as a result of liquidating the partnership when 60% of the non cash assets of the partnership is realized. The partnership has total assets totalling to $500,000 including $50,000 cash before liquidation. The partnership also incurred $35,000 liquidation expenses and withheld $28,000 for the unpaid liabilities of the partnership. What is the loss on realization of noncash assets? A. 632,000 B. 875,000 C. 855,000 D. 612,000
Qw.135.