Preference share capital authorized, P100 par5,000,000Ordinary share capital authorized, P10 par2,000,000Unissued preference share capital1,800,000Unissued ordinary share capital1,000,000Subscriptions receivable, ordinary180,000Subscriptions receivable, preference190,000Preference share capital subscribed300,000Ordinary share capital subscribed220,000Treasury preference shares (700 shares atcost)680,000Share premium850,000Retained Earnings2,000,000How many ordinary shares were issued?

To solve for the ordinary shares that were issued, 1. Get the sum of ordinary shares subscribed and…

Answered: Preference share capital authorized,…

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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Item Nos. 14 and 15 are based on the following information: revealed the following information: Preference Share Capital, par P 100 Preference Share Premium- Ordinary Share Capital- Ordinary Share Premium-- Subscribed Ordinary Shares Retained Earnings Ordinary Subscriptions Receivable 000.00S The shareholders' equity section of Charlie Company's balance sheet P 2,300,000 805,000 5,250,000 2,750,000 50,000 -- 1,900,000 400,000 - _____
PROBLEM 1 The following data were compiled prior to preparing statement of financial position of the Conviction Corporation:Authorized share capital, P100 par value P 4,000,000Unissued share capital 800,000Subscribed share capital 480,000Subscriptions receivable `120,000Premium on share capital 320,000Premium on bonds payable 240,000Gain on sale of treasury shares 80,000Donated capital 800,000Share warrants outstanding 200,000Reserve for bond sinking fund 400,000Reserve for depreciation 600,000Treasury shares, at cost 144,000Retained earnings, unappropriated 720,000Cash dividends payable 160,000Revaluation increment on property 800,000Net unrealized loss on financial assetsat fair value through OCI 96,000 1. What is the total share premium? 2. What is the total contributed capital? 3. What is the total appropriated earnings?
PROBLEM 1 The following data were compiled prior to preparing statement of financial position of the Conviction Corporation:Authorized share capital, P100 par value P 4,000,000Unissued share capital 800,000Subscribed share capital 480,000Subscriptions receivable `120,000Premium on share capital 320,000Premium on bonds payable 240,000Gain on sale of treasury shares 80,000Donated capital 800,000Share warrants outstanding 200,000Reserve for bond sinking fund 400,000Reserve for depreciation 600,000Treasury shares, at cost 144,000Retained earnings, unappropriated 720,000Cash dividends payable 160,000Revaluation increment on property 800,000Net unrealized loss on financial assetsat fair value through OCI 96,000 1. What is the total legal capital? 2. What is the total shareholders’ equity?
The Shareholders' Equity section of BFAR Corp. statement of financial position shows the following: Preference Share Capital, P100 par Ordinary Share Capital, P10 par Treasury Shares - ordinary, P12 cost/share Share Premium - Ordinary Share Premium - Preference Subscribed Ordinary Share Capital Subscription Receivable (2 years collectability) Share Premium on Subscribed Ordinary shares Share Premium on Treasury shares Accumulated Profits - Unappropriated (unadjusted) - beg 2,800,000 6,000,000 960,000 1,640,000 1,020,000 750,000 600,000 625,000 610,000 7,040,000 Dividends declared during the year is P500,000. Profit for the year is P800,000. Compute the Total Shareholders' Equity.
BFAR Corp. has the following information in its shareholders' equity: . Preference Share Capital, P100 par value: P2,000,000 . Share Premium - Preference: P100,000 • Share Dividend Distributable - Preference: P350,000 Ordinary Share Capital, P10 par: P50,000 Share Premium - Ordinary: P40,000 . Subscribed Share Capital - Ordinary: P150,000 • Subscriptions Receivable - Ordinary: $23,000 . Accumulated Profits: P300,000 How much is the legal capital? . .
Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par                                  P      800,000 Authorized Ordinary Share Capital, P10 par                                                400,000 Unissued Preference Share Capital                                                              200,000 Unissued Ordinary Share Capital                                                                  150,000 Subscription Receivable, Preference                                                             60,000 Subscription Receivable, Ordinary                                                                 50,000 Subscribed Preference Shares Capital                                                          40,000 Subscribed Ordinary Shares Capital                                                              50,000 Treasury Shares, Preference (1,000 shares at cost)                                  120,000 Paid in Capital (in excess of…
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par                                  P      800,000 Authorized Ordinary Share Capital, P10 par                                                400,000 Unissued Preference Share Capital                                                              200,000 Unissued Ordinary Share Capital                                                                  150,000 Subscription Receivable, Preference                                                             60,000 Subscription Receivable, Ordinary                                                                 50,000 Subscribed Preference Shares Capital                                                          40,000 Subscribed Ordinary Shares Capital                                                              50,000 Treasury Shares, Preference (1,000 shares at cost)                                  120,000 Paid in Capital (in excess of par…
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par                                  P      800,000 Authorized Ordinary Share Capital, P10 par                                                400,000 Unissued Preference Share Capital                                                              200,000 Unissued Ordinary Share Capital                                                                  150,000 Subscription Receivable, Preference                                                             60,000 Subscription Receivable, Ordinary                                                                 50,000 Subscribed Preference Shares Capital                                                          40,000 Subscribed Ordinary Shares Capital                                                              50,000 Treasury Shares, Preference (1,000 shares at cost)                                  120,000 Paid in Capital (in excess of par…
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of…
A. Preferred shares: P11,520 Goodwill: P576,000B. Preferred shares: P14,560 Goodwill: P1,728,000C. Preferred shares: P5,760 Goodwill: P1,728,000D. Preferred shares: P17,280 Goodwill: P576,000
profits in 20x3. No dividends have been declared since 20x1. PROBLEM 4: CLASSROOM ACTIVITY SUCCOR HELP AID RELIEF Co. declared P3,600,000 cash dividends to its preference and ordinary shareholders out of its profits in 20x3. No dividends have been declared since 20x1.

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