The shareholder’s equity of MI Company on December 31, 2020 has the following balances: · Preference Share Capital, 10% cumulative, P100 par, 50,000 issued shares: P5,000,000 · Ordinary Share Capital, P100 par, 200,000 issued shares: 20,000,000 · Subscribed Ordinary Shares, net of subscription receivable of P4,000,000 (100,000 subscribed shares): 6,000,000 · Treasury Ordinary Shares, at cost (50,000 shares): 4,000,000 · Share Premium: 10,000,000 · Retained Earnings: 8,000,000 Preference dividends have not been paid for three years and have a liquidation value of P110. The book value per ordinary share is: a. 168 b. 152 c. 166 d. 210

The shareholder’s equity of MI Company on December 31, 2020 has the following balances: · Preference Share Capital, 10% cumulative, P100 par, 50,000 issued shares: P5,000,000 · Ordinary Share Capital, P100 par, 200,000 issued shares: 20,000,000 · Subscribed Ordinary Shares, net of subscription receivable of P4,000,000 (100,000 subscribed shares): 6,000,000 · Treasury Ordinary Shares, at cost (50,000 shares): 4,000,000 · Share Premium: 10,000,000 · Retained Earnings: 8,000,000 Preference dividends have not been paid for three years and have a liquidation value of P110. The book value per ordinary share is: a. 168 b. 152 c. 166 d. 210

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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