1. The shareholders equity of Saffron Co. showed the following data on December 31, 2021: 12% Share Capital - Preference, Php30 par, 135,000 share issued and outstanding Share Capital-ordinary, Php50 par, 180,000 shares Share Premium - Ordinary Share Premium - Preference Retained Earnings Php4,050,000 9,000,000 3,240,000 1,080,000 1,395,000 The 2022 transactions of Saffron affecting its equity are summarized chronologically as follows: Jan. 15 Issued 27,000 preference shares at Php40 Feb. 15 Issued 94,500 ordinary shares at Php70 Mar. 9 Retired 5,400 preference shares at Php45 Apr. 30 Purchased 13,500 ordinary shares at Php80 Split ordinary share two for one Reduced 13,500 treasury shares at Php50 Shareholders donated to the Company 9,000 ordinary shares when shares had a market price of Php52. One half of these shares were subsequently issued for Php54. May 9 May 30 July 30 Nov. 30 Dividends were declared on the ordinary shares at Php2 per share and on the preference share at the preference share which will be paid in Jan 15. 2023 Profit for the year was Php2,520,000 which was closed to retained earnings
1. The shareholders equity of Saffron Co. showed the following data on December 31, 2021: 12% Share Capital - Preference, Php30 par, 135,000 share issued and outstanding Share Capital-ordinary, Php50 par, 180,000 shares Share Premium - Ordinary Share Premium - Preference Retained Earnings Php4,050,000 9,000,000 3,240,000 1,080,000 1,395,000 The 2022 transactions of Saffron affecting its equity are summarized chronologically as follows: Jan. 15 Issued 27,000 preference shares at Php40 Feb. 15 Issued 94,500 ordinary shares at Php70 Mar. 9 Retired 5,400 preference shares at Php45 Apr. 30 Purchased 13,500 ordinary shares at Php80 Split ordinary share two for one Reduced 13,500 treasury shares at Php50 Shareholders donated to the Company 9,000 ordinary shares when shares had a market price of Php52. One half of these shares were subsequently issued for Php54. May 9 May 30 July 30 Nov. 30 Dividends were declared on the ordinary shares at Php2 per share and on the preference share at the preference share which will be paid in Jan 15. 2023 Profit for the year was Php2,520,000 which was closed to retained earnings
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 16P: Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018,...
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What is the balance as of Dec 31, 2022 of Share capital-ordinary and Share Capital-preference.
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