GMA Corp. has the following information in its shareholders’ equity: Preference Share Capital, ₱100 par value: ₱2,000,000 Share Premium – Preference: ₱100,000 Share Dividend Distributable – Preference: ₱350,000 Ordinary Share Capital, ₱10 par: ₱50,000 Share Premium – Ordinary: ₱40,000 Subscribed Share Capital – Ordinary: ₱150,000 Subscriptions Receivable – Ordinary: ₱27,000 Accumulated Profits: ₱300,000 How much is the legal capital?

Q: The Smart Company is located in Toronto, Ontario, Canada. The company has been in business for 10…

A: Lets understand the basics. Overhead is a cost which can not be tracked on the products.  So for…

Q: Beginning Inventory  3 units @ $4  $12 Purchases  10 units @ $7  $70 Sales 8 units   What is ending…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sold…

Q: A business purchased a new car at the start of October for $16,800 cash. The car has a useful life…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: ertical Balance Sheet for Isrceam factory on December 31,the end of the fiscal year, are shown below…

A: Lets understand the basics. Management for the purpose of analysis may make two type analysis which…

Q: 1 2 3 4 5 6 Clark Logan made cash investment in his business. An office equipment was bought on…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: compliance requirements in terms of documenting transactions and reporting .you should list the…

A: Tax invoice refers to the invoice which is vital document as it is not only evidence of supplying…

Q: Malikhain Company Adjusted Trial Balance (In 000's) December 31, 2019 Cash on hand Accounts…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: You are required to prepare a trial balance for Alina, a sole proprietorship as at 31st December…

A: Trial Balance :— It is the list of Debit and Credit  balances of All Ledger Accounts.    Capital,…

Q: 1 Lacson invested P100,000 cash in the business 2 3 4. 5. Paid P5,000 for office rent for the month…

A: Introduction: Journals: Another name for journals is book of prime entries. All the business…

Q: How much do ten ₱ 6,945 quarterly payments amount at present,

A: Time Value of Money (TVM) concept is used to discount the future cash flows or to compound the…

Q: [S1] Valuation will lead to a universal value for an asset. [S2] Valuation when done correctly, will…

A: Here discuss about the details of the valuation of the assets which determine the fair value…

Q: ABC, DEF, and GHI formed a joint arrangement to bankroll a series of cultural shows for the…

A: GHI's total share in net income=GHI's bonus+GHI's share in remainder

Q: At December 31, 2022, Culver Corporation reported the following plant assets. Apr. May June July…

A: Following is the answer

Q: Li Company manufactures a product requiring 2 pounds of raw material for each finished unit. Raw…

A: Introduction: The resources employed by the corporation to generate goods and services for resale…

Q: A and B agreed to dissolve their relationship on January 1, 20x1. Their capital balances were P400,…

A: Partnership is one of the agreement between two or more persons in which they invest their capital,…

Q: per -Variable cost per unit: $7 Fixed costs: $1,500 iven these data, compute the BREAKEVEN numb O150…

A: Break even point: It is the point where the total revenues and total expenses are equal, units in…

Q: (Do not round intermediate calculations. Round your answer to 1 decimal place.) a. What is the setup…

A: The Yum and Yee The setup time of this process = Tie taken for first order - Additional order…

Q: Thornton Painting Company is considering whether to purchase a new spray paint machine that costs…

A: Unadjusted rate of return is computed by dividing the increase average income with the initial cost…

Q: The balance in net accounts receivable on 30 June is: The balance in allowance for doubtful debts…

A: Computation of Balance of net accounts receivable as on 30 June in the hand of Com. A  Accounts…

Q: Cullumber Limited competes in the fast food industry with Bramble Limited. Cullumber underwent a…

A: The ratio analysis helps to analyze the financial statements with different elements of financial…

Q: Which of the following costs would be included on an income statement for both a merchandising…

A: Merchandising concern - This entity deals with buying and selling inventory from the supplier to the…

Q: In the cost behavior equation, b*X denotes the variable cost per unit. Select one: O True O False

A: Cost behavior formula = a+ b*x

Q: Current Attempt in Progress Blossom Enterprises purchased equipment on March 15, 2021, for $67,970.…

A: Under straight line method of accounting, asset value will be depreciated equally over the life…

Q: Credit Unions

A: Credit unions are not-for-profit organizations that exist to serve their members.  As they are not…

Q: Machinery Purchased for $ 800000 Accumulated depreciation value is $ 600000 Sold for $400000…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…

A: Manufacturing Overhead :- The cost of manufacturing overhead, often known as MOH, is the aggregate…

Q: . Price per unit: $10 . Variable cost per unit: $7 . Fixed costs: $1,500 Given these data, compute…

A: Introduction: Break even units: It tells the level of sales units where there is no profit nor loss…

Q: ith the use of an example, briefly explain the main difference between the ex-ante and the ex-post…

A: Main Difference between ex-ante and the ex-post opportunity cost of capital: Ex-post risk is…

Q: Woh Che Co. has four departments: Materials, Personnel, Manufacturing, and Packaging. In a recent…

A: Activity-based costing is a costing approach in which a company's activities are identified and the…

Q: Arca Company reports the following for its product for its first year of operations. Direct…

A: Gross profit is the amount which is computed by reducing the cost of goods from the total revenue.…

Q: Partners ABC, DEF and GHI share profits and losses in the ratio of 2:3:5, respectively. At the end…

A: Liquidation of Partnership Firm: "dissolution of partnership firm" refers to the process by which…

Q: Using the four-variance approach, what is the volume variance? 2. Using the four-variance approach,…

A: Variances : It is the difference between the Actual cost and standard cost of production, overheads…

Q: 3. Determine the final amount and interest if P17,000 is invested at 12% compounded bimonthly for 3…

A: Lets understand the basics. Compound interest is a interest which compound on principal as well as…

Q: Instructions: Identify each of the following accounts as an asset, Liability or Equity. DESCRIPTION…

A: Introduction: Balance sheet: All the assets and liabilities are to be shown in Balance sheet. It…

Q: The fundamental ethical principles that all chartered accountants and registered auditors should…

A: Auditors are the professionals who check each detail furnished by the client through his/her…

Q: CakeCo, Inc. has three operating departments. Information about these departments is listed below.…

A: Introduction: Maintenance costs are one-time or ongoing expenses incurred by a firm to maintain its…

Q: Read the below information and answer the following questions INFORMATION Extract of the Statement…

A: Cash Budget are prepared using the information provided to find out the cash balance for June and…

Q: e. What adjusted tax basis does Wizard Corporation take in the land and building received from…

A: Land Building Adjusted tax basis $115,000 $35,000

Q: [The following information applies to the questions displayed below.] Cheese Factory Incorporated…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…

A: Manufacturing cost per unit can be calculated by dividing the total fixed manufacturing cost by the…

Q: The following information was disclosed in the 2015 annual report of The Arcadia Company. Fill in…

A: Inventory available for sale is the total inventory held for sale which is the combination of…

Q: Partners ABC, DEF and GHI share profits and losses in the ratio of 2:3:5, respectively. At the end…

A: Liquidation means where the business is shut down , assets are sold out and liabilities are paid…

Q: What type of cost accounting system would be most appropriate for a business consulting firm? Group…

A: Journal entries are the basic method for recording financial transactions in the books of accounts.…

Q: Zannel plc is considering a new project to produce a revolutionary surveillance device. The initial…

A: NPV (Net Present Value) represents the difference between the present value of future expected cash…

Q: Net sales Cost of goods sold Beginning inventory $ 180,000 124,000 41,000

A: Introduction: Gross profit ratio: It tells the level of gross profit % earned on the Total sales of…

Q: Consider the financial statements alongside the notes presented by Simple Things Industries and…

A: Statement of cash flow is prepared in order to show the way the company has generated cash and the…

Q: Gibson Boot Co. sells men’s, women’s, and children’s boots. For each type of boot sold, it operates…

A: Calculation of above requirement are as follows

Q: Lake acquired a controlling interest in Boxwood several years ago. During the current fiscal period,…

A: Income tax payable is the amount which is to be paid to the government after applying the tax rate…

Q: Travis Company reports the following for its single product. Travis produced and sold 34,000 units…

A: Contribution margin is the amount of profit after deducting the variable expenses from the sales.…

Q: List Price Trade Discount Rate Trade Discount $282.00 25% Net Price

A: Introduction: Net price: Net price is the final price after allowing all the discount amounts.…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.