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#21 The ABC Company began operations in January 2018 and reported the following results for each of its three years of operations: 2018 – 799,500 net loss             2019 – 123,000 net loss            2020 – 2,460,000 net income At December 31, 2020, ABC Company’s capital accounts were as follows: 8% cumulative preference share capital, 50,000 shares issued and outstanding – P 7,687,500 Ordinary share capital, 750,000 shares issued and outstanding – P 31,518,750 ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2018. What is the book value per ordinary share at December 31, 2020? Group of answer choices 41.62 42.85 41.70 42.03

#21 The ABC Company began operations in January 2018 and reported the following results for each of its three years of operations: 2018 – 799,500 net loss             2019 – 123,000 net loss            2020 – 2,460,000 net income At December 31, 2020, ABC Company’s capital accounts were as follows: 8% cumulative preference share capital, 50,000 shares issued and outstanding – P 7,687,500 Ordinary share capital, 750,000 shares issued and outstanding – P 31,518,750 ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2018. What is the book value per ordinary share at December 31, 2020? Group of answer choices 41.62 42.85 41.70 42.03

Intermediate Accounting: Reporting And Analysis
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 15E
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#21

The ABC Company began operations in January 2018 and reported the following results for each of its three years of operations:

2018 – 799,500 net loss             2019 – 123,000 net loss            2020 – 2,460,000 net income

At December 31, 2020, ABC Company’s capital accounts were as follows:

8% cumulative preference share capital, 50,000 shares issued and outstanding – P 7,687,500

Ordinary share capital, 750,000 shares issued and outstanding – P 31,518,750

ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2018.

What is the book value per ordinary share at December 31, 2020?

Group of answer choices

41.62

42.85

41.70

42.03

 

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