P7,000,000 3,000,000 4,335,000 650,000 Preference share capital, P300 par Share premium - preference shares Ordinary share capital, P150 Share premium - ordinary shares Subscribed ordinary share capital 950,000 Retained earnings - appropriated 550,000 Unrealized loss on available for sale securities 800,000 Subscription receivable - ordinary shares 700,000 Retained earnings - unappropriated Treasury shares - ordinary 3,500,000 1,000,000
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On December 31, 2020, the equity section of J Company revealed the following information: (see image below). How much is the contributed capital of J Company as of December 31, 2020?
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- 1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…ABC Company provided the following information on December 31, 2020Share capital 5,000,000Subscribed share capital 3,000,000Subscription receivable 2,000,000Share premium 1,500,000Treasury Shares, at cost 700,000Retained Earnings 1,000,000Cumulative unrealized gain on Financial Asset at FVOCI 600,000What is the contributed capital on December 31, 2020?Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?
- 39.The accounts below appear in the December 31, 2020 trial balance of Spartans Corporation: Authorized Share Capital P 5,000,000Unissued Share Capital 2,000,000Subscribed Share Capital 1,000,000Subscription Receivable-due 2018 400,000Property Dividends Payable 800,000Share Premium 500,000Retained Earnings-unappropriated 600,000Retained Earnings-appropriated 300,000Treasury Shares-at cost 100,000 In its December 31, 2020 Statement of Financial Position, what is the amount of Spartans Contributed Capital?53. The following information was taken from the accounting records of BT21, Inc. for 2021:· Proceeds from issuance of preferred shares, P800,000· Bonds payable converted to ordinary shares, P200,000· Proceeds from sale of plant building, P1,000,000· Gain on sale of plant building, P100,000· Dividends paid on preference shares P50,000· Payment for purchase of machinery, P200,000· 2% bonus issue on ordinary shares, P300,000How much is the net cash flow from investing activities and cash flow from investing activities during 2021, respectively?- What is the unrealized gain (loss) reported in profit or loss for the year 2021?A. P31,000B. (P31,000)C. P43,000D. (P43,000) - How much was the gain or loss on the sale of CD shares? A. P1,100 gain B. P2,000 gain C. P15,000 loss D. P15,900 loss
- 40.The accounts below appear in the December 31, 2020 trial balance of Spartans Corporation: Authorized Share Capital P 5,000,000Unissued Share Capital 2,000,000Subscribed Share Capital 1,000,000Subscription Receivable-due 2018 400,000Property Dividends Payable 800,000Share Premium 500,000Retained Earnings-unappropriated 600,000Retained Earnings-appropriated 300,000Treasury Shares-at cost 100,000 In its December 31, 2020 Statement of Financial Position, what is the amount of Spartans total Shareholders’ Equity.Color Unite Company reported the following on December 31, 2020:8% cumulative preference share capital, P50 par value 4,500,000 Ordinary share capital, P1 par, 10,000,000 shares 10,000,000Share Premium 20,000,000Retained earnings, January 1, 2020 132,000,000Net Income for 2020 35,000,000 The net income included an expropriation loss of P8,000,000. What amount should be reported as basic earnings per share?A. 3.46B. 4.04C. 4.63D. 3.67HHH Company provided for the following shareholders’ equity on December 31, 2020: Share capital, P100 5,000,000 Share premium 1,000,000 Retained earnings unappropriated 1,500,000 Retained earnings appropriated for contingencies 500,000 Revaluation surplus 800,000 8,800,000 Compute for the book value per share on December 31, 2020
- ABC Corporation provided you the following information on January 01, 2021: Share capital, P10 par P4,000,000 Share premium 800,000 Retained earnings 3,500,000 Treasury shares, P15 cost 450,000 Share transactions for the year 2021: Feb 01 – Reissued 20,000 treasury shares for equipment with carrying amount of P350,000 and fair value of P400,000 March 10 – Issued 50,000 shares for equipment with carrying value of 530,000. Market value of share was P12. March 31 - Declared 10% share dividend. Market value of the share was P15 April 15 - Issued and distributed share dividends declared on March 31. Number of outstanding shares for the year 2021 a. 485,000 b. 484,000 c. 495,000 d. 490,000ABC Corporation provided you the following information on January 01, 2021: Share capital, P10 par P4,000,000 Share premium 800,000 Retained earnings 3,500,000 Treasury shares, P15 cost 450,000 Share transactions for the year 2021: Feb 01 – Reissued 20,000 treasury shares for equipment with carrying amount of P350,000 and fair value of P400,000 March 10 – Issued 50,000 shares for equipment with carrying value of 530,000. Market value of share was P12. March 31 - Declared 10% share dividend. Market value of the share was P15 April 15 - Issued and distributed share dividends declared on March 31. Journal entry on March 10 should include credit to: a.Share capital – 400,000 b.Share premium – 50,000 c.Share premium – 100,000 d.Treasury shares…Compute for the Shareholder’s Equity using these data; Bonds payable P300,000; Ordinary shares premium P50,000; Donated capital P40,000; Treasury shares at cost; P20,000Ordinary share capital (par P100) P500,000; share warrants P100,000; Trading securities P70,000; Share premium from treasury shares P15,000; Retained earnings P135,000 P720,000 P760,000 P820,000 P860,000 answer not given