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![Green Corporation has the following
capital structure since the incorporation
on January 1. 2016:
• 10% Preference shares, P100 par,
1,000 shares issued
----P100,000
●
-‒‒‒‒‒‒‒
Ordinary shares, P50 par, 8,000
shares issued
400,000
Although profitable, Green Corporation
did not declare dividends in 2016 and
2017. In 2018, its Board of Directors
declared a cash dividend of P120,000.
Required:
A. Allocate the P120,000 cash dividend
between preference shares and ordinary
shares assuming preference shares are:
1. Non-cumulative and non-participating
2. Cumulative but non-participating
3. Non-cumulative but fully participating
4. Cumulative and fully participating
B. Compute the dividend per preference
share and dividend per ordinary share
under each of the assumption mentioned
above.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe72db9c3-1f9d-442a-ba62-bcb6d45fbdb1%2F163a3158-b5b0-43e3-bbab-fce092a8b1e4%2F6f18b7_processed.jpeg&w=3840&q=75)
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- An entity began operations January 1, 2015 and reported the following net income or loss for five years of operations: 2015 1,500,000 loss 2016 1,300,000 loss 2017 1,200,000 loss 2018 4,500,000 income 2019 9,000,000 income On December 31, 2019, the capital accounts were: Preference share capital, P100 par, 12% participating and cumulative, 100,000 shares 10,000,000 Preference share capital P100 par, 10% nonparticipating, Noncumulative, 50,000 shares 5,000,000 Ordinary share capital, P10 par, 1,000,000 shares 10,000,000 The entity has never paid cash or share dividend. The capital accounts have not changed since the entity began operations. If the maximum amount available for cash dividends is declared on December 31, 2019, what amount of dividend is payable to 12% Preference Shareholders? 10% Preference Shareholders?The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10 par, 900,000 shares issued P9,000,000; Ordinary Share Premium P2,700,000; Retained Earnings P1,300,000. On January 2, 2019, the corporation purchased and retired 100,000 shares of its share capital for P 1,800,000. a. In preparing the journal entry for this transaction, is there an indicated gain or indicated loss? b. how much is the indicated gain (loss)? If your answer is an indicated loss, put a parenthesis. c. how much will be credited to Cash? d. how much will be debited to Ordinary Share Premium??On April 1, 2014, Friends Corp., a newly formed company had the following shares issued and outstanding: Preference shares, P50 par, 6,000 shares originally issued at P100. Ordinary shares, P20 par, 20,000 shares originally issued at P60. Friends shareholder's equity should report: 1. Preference share capital - 2. Ordinary share capital -
- On January 1, 2017, an entity showed the following shareholders' equity: Share capital, 300,000 shares outstanding, P5 par 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 On July 1,2017, the entity declared a property dividend of inventory payable on March 1, 2018. The inventoy had P1,200,000 carrying amount and a fair value less cost to distribute of P1,500,000 on July 1, 2017, P1,800,000 on December 31, 2017 and P2,000,000 on March 1, 2018. The net income for 2017 was P3,000,000. What mount should be reported as retained earnings on December 31, 2017? On December 31, 2017, the inventory should be reported at what amount? What amount should be recognized as gain on distribution of property dividend in 2018?What should FROZEN report as total contributed capital in its December 31, 2018 statement of financial position? * FROZEN Corporation was incorporated on January 1, 2018 with the following authorized capitalization: 40,000 ordinary shares, no par value, stated value of P40 per share • 10,000 shares of 5% cumulative preference share, par value of P10 per share During 2018, FROZEN issued 24,000 ordinary shares for a total consideration of P1,200,000 and 6,000 preference share at P16 per share. In addition, on December 29, 2018, subscriptions Lor 2, W pretorence shares were taxon at a purchase price of »17. These subscribed shares wore paid for on January 2, 2019.BFAR Corporation has the following information in its shareholders' equity: Ordinary Share Capital of P1,600,000 - P200 par value Share Premium, P400,000 ● ● ● . Accumulated Profits-Free of P900,000. Treasury shares of P440,000 (cost is P220 per share) BFAR Corporation declared cash dividends of P3.00 per share on March 1, 2022, to shareholders on record on March 31, 2022, payable on April 30, 2022. Compute the Cash Dividends on March 1, 2022.
- On January 1, 2020, Leilanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount anda fair value of P1,500,000 on July 1 The net income for 2020 was P3,000,000. How much is the appropriated retained earnings? Select the correct response O500,000 O 400.000 O 250,000 O 450,000 < Previous ContinueOn January 1, 2020, LeiLanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount and a fair value of P1,500,000 on July 1. The net income for 2020 was P3,000,000 How many shares are issued and outstanding? Select the correct response: O250,000 O 350,000 O 300,000 O 400,000 < PreviousCrystal Company provided the following shareholders' equity on December 31, 2019: Ordinary share capital, P10 par P50,000,000; Preference share capital, P100 par, 5% cumulative P100,000,000 There were no changes in share capital outstanding since the first year of operations in 2017. The entity paid cash dividends of P3.000.000 in 2017, P4,000,000 in 2018 and P12,000,000 in 2019. What amount was received as cash dividends by ordinary shareholders in 2019? Select the correct response: O 5,000,000 O 4,000,000 O 6.000,000 O 7,000,000 ( Previous Continue >
- 1. Phoenix Suns Company reported the following shareholders’ equity on January 1, 2019. Ordinary Share Capital - P1,500,000 Ordinary Share Premium - P3,000,000 Retained earnings - P2,000,000 The entity had 400,000authorized shares of P 5 par value, of which 300,000 shares were issued and outstanding. On March 1, 2019, the entity acquired 50,000 shares for P 10 per share to be held as treasury. These shares were originally issued at P 8per share. On December 31, 2019, the entity declared and distributed property dividend with a carrying amount of P 750,000, which is also its fair value. The net income for 2019 was P2,500,000. What amount should be reported as Unappropriated retained earnings on December 31, 2013?Required to answer. Single choice. a. P3,500,000 b. P3,000,000 c. P3,250,000 d. P3,350,000The Statement of Changes in Equity of Corinthian Corp. shows the following balances as of January 1, 2021: Ordinary share capital (P5 par, 250,000 shares authorirized, 137,500 issued and outstanding) 687,500Share Premium 275,000Unappropriate retained earnings 667,500Appropriate retained earnings 250,000Total Equity P1,880,000 The corporation had the following equity transactions for during 2021: Jan 15 Completed the building renovation for which 250,000 of retained earnings had been restricted. Paid the contractor P242,500, all of which is capitalized. Mar 3 Issued 50,000 additional ordinary shares for P8.00 per share. May 18 Declared a dividend of P1.50 per share to be paid on July 31, 2021, to shareholders of…Lord Aguilar Corporation plans to declare and distribute a dividend in December 2016. There are 20,000 shares of 7% preference shares, par value P50, and 400,000 outstanding ordinary sgares, q par value. No dividend was paid in the previous year. Required: Determine the amount of the dividends that should be paid to the preference and ordinary shareholders if the preference shares 1. cumulative and non participating and the total amount that the board of directors has specified for dividends is 100,000
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