NAME: SCORE: SECTION: PROFESSOR: Problem #23 The shareholders' equity section of Buenaflor Technologies as at Dec. 31, 2018 appeared as follows: 5% Cumulative Preference Shares, P100 par, 50,000 shares authorized, shares issued P2,000,000 Ordinary Shares, P5 par; 25,000 shares issued Share Premium-Ordinary Retained Earnings 0,000 shares authorized; 750,000 650,000 Required: Provide the answers to each of the following questions: 1. How many preference shares were issued? 2. What was the total issue price of the preference shares? 3. What amount should be recorded in the ordinary shares account? 4. What was the total issue price' per share of the ordinary shares? 5. What is the amount of required preference dividends? 6. What is the amount of total shareholders' equity?

NAME: SCORE: SECTION: PROFESSOR: Problem #23 The shareholders' equity section of Buenaflor Technologies as at Dec. 31, 2018 appeared as follows: 5% Cumulative Preference Shares, P100 par, 50,000 shares authorized, shares issued P2,000,000 Ordinary Shares, P5 par; 25,000 shares issued Share Premium-Ordinary Retained Earnings 0,000 shares authorized; 750,000 650,000 Required: Provide the answers to each of the following questions: 1. How many preference shares were issued? 2. What was the total issue price of the preference shares? 3. What amount should be recorded in the ordinary shares account? 4. What was the total issue price' per share of the ordinary shares? 5. What is the amount of required preference dividends? 6. What is the amount of total shareholders' equity?

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 8MCQ

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