The stockholders' equity section of Kay Corporation at the end of 2015 showed: Preference shares (6%, P50 par, 10,000 shares authorized, 6,000 shares issued) P ? Ordinary shares (P10 par, 80,000 shares authorized, 50,000 issued) Paid-in capital in excess of par, preference shares a0-in capital in excess of par, ordinary shares Retained earnings, January 1 Less Treasury Shares (350 ordinary shares at cost) Total shareholders' equity 500,000 ? 120,000 86,000 8,400
The stockholders' equity section of Kay Corporation at the end of 2015 showed: Preference shares (6%, P50 par, 10,000 shares authorized, 6,000 shares issued) P ? Ordinary shares (P10 par, 80,000 shares authorized, 50,000 issued) Paid-in capital in excess of par, preference shares a0-in capital in excess of par, ordinary shares Retained earnings, January 1 Less Treasury Shares (350 ordinary shares at cost) Total shareholders' equity 500,000 ? 120,000 86,000 8,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
9. The
(see attached images for the given, please answer it. thank you so much)
a.What is the peso amount to be reported for
b. What is the average price for which ordinary shares were issued?
c. If preference shares were issued at an average price of P53 per share, what amount should appear in its paid-in capital in excess of par?
d. What is the average cost per share of
e. What is the revised
f. Present the shareholders’ equity.
Transcribed Image Text:Preference shares (6%, P50 par, 10,000 shares authorized, 6,000 shares issued) P ?
9. The stockholders' equity section of Kay Corporation at the end of 2015 showed:
Paid-in capital in excess of par, ordinary shares
Less Treasury Shares (350 ordinary shares at cost)
Ordinary shares (P10 par, 80,000 shares authorized, 50,000 issued)
Paid-in capital in excess of par, preference shares
500,000
?
l in
120,000
Retained earnings, January 1
86,000
8,400
Total shareholders' equity
227
Transcribed Image Text:d. What is the average cost per share of treasury stock? (Round to the nearest cent.)
c. If preference shares were issued at an average price of P53 per share, what amounl
What is the revised retained earnings if the net income for the year is P167,000 and
should appear in its paid-in capital in excess of par?
e.
total dividends declared is P50,000?
f. Present the shareholders' equitv.
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