Below are the accounts shown in the December 31, 2020 trial balance of ABC Corporation: Preference shares, P50 par, 100,000 authorized, 40,000 shares issued Ordinary shares, P100 par, 200,000 authorized, 50,000 shares issued Subscribed preference share, 20,000 shares Subscribed ordinary shares, 20,000 shares Subscription receivable, preference due March 31, 2021, P180,000 Subscription receivable, ordinary due June 1, 2021, P260,000 Treasury stock, preference, 10,000 shares reacquired at P86 Share premium - Ordinary shares. P1,500,000 Share premium - Preference shares. P2.100,000 Share premium from Treasury, P400,000 Donated Capital. P600,000 Ordinary share warrants outstanding. P300,000 Ordinary share options outstanding. P200,000 Accumulated Profits. P3.100.000 Revaluation Surplus. P1,500,000 Reserve for plant expansion. P1.200.000 Unrealized Gain on financial asset at FMV through OCI/L, P200.000
Below are the accounts shown in the December 31, 2020 trial balance of ABC Corporation: Preference shares, P50 par, 100,000 authorized, 40,000 shares issued Ordinary shares, P100 par, 200,000 authorized, 50,000 shares issued Subscribed preference share, 20,000 shares Subscribed ordinary shares, 20,000 shares Subscription receivable, preference due March 31, 2021, P180,000 Subscription receivable, ordinary due June 1, 2021, P260,000 Treasury stock, preference, 10,000 shares reacquired at P86 Share premium - Ordinary shares. P1,500,000 Share premium - Preference shares. P2.100,000 Share premium from Treasury, P400,000 Donated Capital. P600,000 Ordinary share warrants outstanding. P300,000 Ordinary share options outstanding. P200,000 Accumulated Profits. P3.100.000 Revaluation Surplus. P1,500,000 Reserve for plant expansion. P1.200.000 Unrealized Gain on financial asset at FMV through OCI/L, P200.000
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...
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