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The shareholders' equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders' equity 500,000 600,000 1,000,000 ? 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders' equity h. Cost per treasury share 2.

The shareholders' equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders' equity 500,000 600,000 1,000,000 ? 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders' equity h. Cost per treasury share 2.

Intermediate Accounting: Reporting And Analysis
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Financial Accounting and Reporting

Equity

2. The shareholders’ equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders’ equity 500,000 600,000 1,000,000 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders’ equity h. Cost per treasury share
Transcribed Image Text:2. The shareholders’ equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Preference shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary shares, P5 stated value, 500,000 shares authorized, ? shares issued and ? shares outstanding Share premium – ordinary Retained earnings Total share capital and retained earnings Less: Treasury stock – ordinary, 10,000 shares, at cost Total shareholders’ equity 500,000 600,000 1,000,000 40,000 Required: Determine the following Issue price of preference shares b. Ordinary shares issued c. Ordinary shares outstanding d. Issue price of ordinary shares e. Legal capital of the corporation f. а. Contributed capital of the corporation g. Total shareholders’ equity h. Cost per treasury share
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