How to journal entry? 0,0000,0000,00031,2019:I8% Preference Share Capital, par value of P100 authorized 10,000shares, issued and outstanding 8,000 sharesOrdinary Share Capital, no par authorized 25.000 shares statedvalue of P100, issued 15,000 shares of which 1,000 shares are inshare..P 800,0001,500,00030.the treasurySubscribed Preference Share CapitalSubscribed Ordinary Share CapitalSubscription Receivable - Preference Share CapitalSubscription Receivable - Ordinary Share CapitalPreference Share PremiumOrdinary Share PremiumDonated Capital - LandTreasury Shares (at cost) 1,000 ordinary sharesRetained EarningsAppropriation Reserve for Treasury Shares100,00050,00040,00020,00010,00015,00075,000120,00045,000120,000owed:2015Direction: Prepare in good form the shareholders' equity section of the corporation. IS13. The following accounts appear in the trial balance of DAVAO EAGLE Corporation as ofDecember 31, 2019:

Introduction: A shareholder is registered by the corporation as the legal owner of shares of a…

Answered: 31,2019 18% Preference Share Capital,…

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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The shareholders' equity of Diamond Corporation on December 31, 2021 follows: Ordinary Share Capital P100 par, P1,000,000 8% Preference Share Capital P50 par 500,000 Retained Earnings (deficit) (300,000) Total 1,200,000 No dividends have been paid on the preference shares since 2019 Compute for the book value per share on preference share and ordinary share under the following assumptions with respect to preference shares: a. Preference shares are preferred as to asset b. Preference shares are preferred as to dividends
PPP Company provided the following shareholders’ equity on December 31, 2020: Preference share capital, 12% P100 par 1,000,000 Ordinary share capital, P100 par 4,000,000 Share premium 2,000,000 Retained earnings 1,000,000 Dividends have been paid on the preference share up to December 31, 2018. Questions: 1. Assuming that the preference share is cumulative and nonparticipating, compute for the book valueper ordinary share. 2. Assuming that the preference share is cumulative and nonparticipating, compute for the book value per preference share.
#17The following data are presented for Caroline company for the year ended December 31, 2020.Preference share capital authorized, 100 par, P15,000,000, Ordinary share capital authorized,10 par, P6,000,000, Unissued preference share capital, P5,400,000, Unissued ordinary sharecapital, P3,000,000, Subscriptions receivable, ordinary, P540,000, Subscriptions receivable,preference, P570,000, Preference share capital subscribed, P900,000, Ordinary share capitalsubscribed, P660,000, Treasury preference shares (700 shares at cost), P2,040,000, Sharepremium, P2,550,000, Retained earnings, P6,000,000. What is the amount of shareholder’sequity on December 31, 2018? 19,560,000 pls provide solution for this answer
11. The following data of Slapshock Corporation as of December 31, 2019 showed the following: Preference share capital, P 100 par P 820,000; Ordinary share capital, P 30 par, 300,000 shares authorized, 100,000 shares issued and outstanding P3,000,000; Preference share premium P410,000; Ordinary share premium P3,300,000. What was the original issue price per share of preference share capital? Using data in no. 11, what was the original issue price per share of ordinary share capital? Using data in no. 11, how many shares of preference share capital were issued and outstanding as of December 31, 2019?
PPP Company provided the following shareholders’ equity on December 31, 2020: Preference share capital, 12% P100 par 1,000,000 Ordinary share capital, P100 par 4,000,000 Share premium 2,000,000 Retained earnings 1,000,000 Dividends have been paid on the preference share up to December 31, 2018. Questions: 1. Assuming that the preference share is cumulative and fully participating, compute for the book value per ordinary share. 2. Assuming that the preference share is cumulative and fully participating, compute for the book value per preference share.
The shareholders' equity of Diamond Corporation on December 31, 2021 follows: Ordinary Share Capital P20 par, 100,000 shares issued P2,000,000 8% Preference Share Capital P50 par, 10,000 shares issued 500,000 Share Premium - Ordinary 200,000 Share Premium - Preference 50,000 Retained Earnings 1,500,000 Total 4,250,000 Compute for the book value per share on preference and ordinary share under each of the following assumptions: a. Preference shares have liquidation value of P60 per share, no dividends in arrears b. Preference shares are cumulative with dividends in arrears for 3 years including the current year, Upon corporate liquidation, shares are preferred as to assets up to par and any dividends in arrears must be paid first before distribution may be made to ordinary shares.
PPP Company provided the following shareholders’ equity on December 31, 2020: Preference share capital, 12% P100 par 1,000,000 Ordinary share capital, P100 par 4,000,000 Share premium 2,000,000 Retained earnings 1,000,000 Dividends have been paid on the preference share up to December 31, 2018. Questions: 1. Assuming that the preference share is noncumulative and nonparticipating, compute for the book value per ordinary share. 2. Assuming that the preference share is noncumulative and nonparticipating, compute for the book value per preference share.
KAHITPUMASALANGOKAYNA CORPORATION provided the following data on December 31,201912% preference share capital, 20 000 shares, P100 par 2 000 00014% preference share capital, 10 000 shares, P300 par 3 000 000Ordinary share capital, 50 000 shares, P100 par 5 000 000retained earnings 2 240 000share premium 1 500 000the 12% preference share is cumulative and participating. the 14% preference share is noncumulatie and participating. dividends are in arrearsfor 3 years. the 12% preference share is conertible. each 12% preference share can be converted to 2 ordinary shares. ordinary shares outstanding on January 1,2019 were 25,000 shares. 15 000 shares were issued on July 1, while another 10 000 shares were issued on October 1. the issuance during the year was all at par. net income for the year was…
Pat Company reported the following information on December 31, 2020. Determine the legal capital: * P230 000 80 500 525.000 275,000 5.000 Preference Share, P100 par Share Premium - Preference Ordinary Share, P15 par Share Premium- Ordinary Subscribed Ordinary Share Retained Earnings Notes Payable Subscription receivable- Ordinary 190,000 400,000 40,000 Your answer This is a required question
provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10% P50 par (noncumulative and participating) 1,000,000 Preference share capital, 8% P50 par (cumulative and participating) 1,500,000 Ordinary share capital, P100 2,500,000 Share premium 500,000 Retained earnings 600,000 Dividends have been paid on the preference share up to December 31, 2018. compute the Book value ordinary share
2. Assurne the folowing information for Jewong Co, at December 31, 2020. 12% Cumulative and Non-participating Preference Share, P10 par, 15.000 shares asued and outstanding Ordinary Share, P5 par, 60,000 shares istued and outstanding. The company declared and paid cash dividends amounting to P30,000 for the vear. At the beginning of the year, uindectared dividends amounted to P13,500, what ie the amount of dividends paid to the company's ordinary sharehoiders? A.O B. 6,000 C. 13,500 D. 30,000 3. Chadwick Inc. declared 15% share dividend on its 15,000 iesued and outstanding shares of P1n par value ordinary share, which had a fair market value of PS per share before the share dividend was distributed 90 days after the declaration date. The company's current labilites wil increase by how much? A POP 8. 2,250 C P11,250 D. P22,500
Less: Treasury share (at cost) RTC Corporation has 16,000 outstanding shares of P50 par value, 10% preference shares and 10,000 shares of P100 par value ordinary shares. Dividends are declared as follows: 2019- P36,000 2020- 62,000 2021- 250,000 Requirement: Prepare schedules showing the amount of dividends paid each year to each class of shares assuming the preference share is: a. Cumulative and fully participating b. Cumulative and non-participating C. Non-cumulative and fully participating d. Non-cumulative and non-participating The shareholders' equity section of the statement of financial position of the PPK Corporation on December 31, 2021 is as follows: 1% Preference share capital, P100 par, 1,000 shares issued and outstanding Ordinary share capital, P100 par, 2,000 shares issued, of Which 100 shares are in the treasury Share premium Retained earnings Total P100,000 200,000 50,000 80,000 430,000 10,000 353

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