Part of the Financial Position of Candy Inc. as of Dec. 31, 2019 showsthe following:Accounts PayableBonds payableOrdinary Share Capitalpar)8% Preference Share Capital (P200 par)10% Preference Share Capital(P200 par)Р 56,000500,000550,000(P100300,000200,00025,00050,00070,000230,000(21,000)P 1,960,000Share Premium – ordinaryShare Premium – PreferenceAppropriations reserveAccumulated ProfitsTreasury shares - ordinary (P105/sh)Total EquitiesDividends are in arrears for two years. The 10% preference sharecapital is cumulative while the 8% preference share capital isparticipating up to 12%.If Candy Inc. is liquidated, how much would be received by Mr.Gwapo who holds 500 ordinary shares and 100 shares of 10%preference shares?

Name: Part of the Financial Position of Candy Inc. as of Dec. 31, 2019 show
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Description: Part of the Financial Position of Candy Inc. as of Dec. 31, 2019 showsthe following:Accounts PayableBonds payableOrdinary Share Capitalpar)8% Preference Share Capital (P200 par)10% Preference Share Capital(P200 par)Р 56,000500,000550,000(P100300,000

Liquidation of Company Liquidation of the company is the winding process of the company whether by…

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Part of the Financial Position of Candy Inc. as of Dec. 31, 2019 shows the following:

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 14P

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Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares of 10%, 100 par, nonconvertible preferred stock outstanding, on which the years dividends had been paid. At the beginning of 2019, the company had 7,000 shares of common stock outstanding. On April 2, 2019, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2019. Common dividends of 17,000 had been paid during 2019. At the end of 2019, the market price per share of common stock was 17.50. Required: 1. Compute Mononas basic earnings per share for 2019. 2. Compute the price/earnings ratio for 2019.
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