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Required: (a) Prepare a statement of changes in equity and determine the December 31, 2018 balances of the following: b (1) Preference share capitalIAq oas (2) (3) Ordinary share capital Total additional paid in capital Retained earmings Treasury shares Unrealized gains and losses on non-current equity investments (in equity section; disregard income tax.) Total shareholders' equity 0.000 (4) (5) (6) (7) (b) Compute the following: Average number of ordinary shares that will be used to compute earnings per share Basic earnings per share (8) (9) Prepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair value of non-current equity investments at fair value increased from P150,000 to P170,000 from beginning to end of the year. Beginning balance of Unrealized Gains or Losses on Non-current Equiy Investments is P5,000 credit. 4006

Required: (a) Prepare a statement of changes in equity and determine the December 31, 2018 balances of the following: b (1) Preference share capitalIAq oas (2) (3) Ordinary share capital Total additional paid in capital Retained earmings Treasury shares Unrealized gains and losses on non-current equity investments (in equity section; disregard income tax.) Total shareholders' equity 0.000 (4) (5) (6) (7) (b) Compute the following: Average number of ordinary shares that will be used to compute earnings per share Basic earnings per share (8) (9) Prepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair value of non-current equity investments at fair value increased from P150,000 to P170,000 from beginning to end of the year. Beginning balance of Unrealized Gains or Losses on Non-current Equiy Investments is P5,000 credit. 4006

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Required: (a) Prepare a statement of changes in equity and determine the December 31, 2018 balances of the following: b (1) Preference share capitalIAq oas (2) (3) Ordinary share capital Total additional paid in capital Retained earmings Treasury shares Unrealized gains and losses on non-current equity investments (in equity section; disregard income tax.) Total shareholders' equity 0.000 (4) (5) (6) (7) (b) Compute the following: Average number of ordinary shares that will be used to compute earnings per share Basic earnings per share (8) (9)
Transcribed Image Text:Required: (a) Prepare a statement of changes in equity and determine the December 31, 2018 balances of the following: b (1) Preference share capitalIAq oas (2) (3) Ordinary share capital Total additional paid in capital Retained earmings Treasury shares Unrealized gains and losses on non-current equity investments (in equity section; disregard income tax.) Total shareholders' equity 0.000 (4) (5) (6) (7) (b) Compute the following: Average number of ordinary shares that will be used to compute earnings per share Basic earnings per share (8) (9)
Prepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair value of non-current equity investments at fair value increased from P150,000 to P170,000 from beginning to end of the year. Beginning balance of Unrealized Gains or Losses on Non-current Equiy Investments is P5,000 credit. 4006
Transcribed Image Text:Prepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair value of non-current equity investments at fair value increased from P150,000 to P170,000 from beginning to end of the year. Beginning balance of Unrealized Gains or Losses on Non-current Equiy Investments is P5,000 credit. 4006
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