First Time Corporation conducted an IPO, issuing 2 million common shares with a par value of P0.25 to investors at a price of B 15 per share. During its first year of operation, Guaraldi earned net income of P 0.07 per share and paid a dividend of per share. At the end of the year, the company's stock was selling for P 20 per share. Construct the equity account for Guaraldi at the end of its first year in business, and calculate the firm's market capitalization. P0.005

First Time Corporation conducted an IPO, issuing 2 million common shares with a par value of P0.25 to investors at a price of B 15 per share. During its first year of operation, Guaraldi earned net income of P 0.07 per share and paid a dividend of per share. At the end of the year, the company's stock was selling for P 20 per share. Construct the equity account for Guaraldi at the end of its first year in business, and calculate the firm's market capitalization. P0.005

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

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 1MC

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