3. How many ordinary shares are issued and outstanding respectively as of December 31, 2021? * The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares, P200 par, 15,000 shares issued and outstanding - P3,000,000 • Ordinary shares, P30 par, 250,000 shares issued and outstanding - P7,500,000 • Share premium, preference - P900,000 • Share premium, ordinary - P750,000 • Retained earnings - P2,100,000 The following selected transactions relating to shareholders' equity were noted in 2021: a. Purchased and retired 2,000 preference shares at P280 each b. Purchased 30,000 of its own ordinary shares at P35 per share Reissued 5,000 treasury shares at P38 per share. d. Shareholders donated to the company 20,000 ordinary shares when the market price is P36 per share. C. e. One-half of the donated shares were issued for P39 each. f. Profit for 2021 was P1,850,000 The BOD declared and paid the regular annual dividend on the preference shares and P1.50 dividend per ordinary share. 285,000 and 250,000 250,000 and 285,000 215,000 and 250,000 250,000 and 215,000
3. How many ordinary shares are issued and outstanding respectively as of December 31, 2021? * The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares, P200 par, 15,000 shares issued and outstanding - P3,000,000 • Ordinary shares, P30 par, 250,000 shares issued and outstanding - P7,500,000 • Share premium, preference - P900,000 • Share premium, ordinary - P750,000 • Retained earnings - P2,100,000 The following selected transactions relating to shareholders' equity were noted in 2021: a. Purchased and retired 2,000 preference shares at P280 each b. Purchased 30,000 of its own ordinary shares at P35 per share Reissued 5,000 treasury shares at P38 per share. d. Shareholders donated to the company 20,000 ordinary shares when the market price is P36 per share. C. e. One-half of the donated shares were issued for P39 each. f. Profit for 2021 was P1,850,000 The BOD declared and paid the regular annual dividend on the preference shares and P1.50 dividend per ordinary share. 285,000 and 250,000 250,000 and 285,000 215,000 and 250,000 250,000 and 215,000
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 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning