The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018 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, P ? share issued and Share Premium-Ordinary Retained Earnings shares outstanding 500,000 600,000 1,000,000 Total Share Capital and Retained Earnings Less: Treasury Stock - Ordinary, 10,000 shares, at Cost Total Shareholders' Equity 40,000 Required: Provide the answers to each of the following questions: 1. What is the total issue price of the preference shares? 2. How many ordinary shares were issued? 3. How many ordinary shares are outstanding?
The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018 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, P ? share issued and Share Premium-Ordinary Retained Earnings shares outstanding 500,000 600,000 1,000,000 Total Share Capital and Retained Earnings Less: Treasury Stock - Ordinary, 10,000 shares, at Cost Total Shareholders' Equity 40,000 Required: Provide the answers to each of the following questions: 1. What is the total issue price of the preference shares? 2. How many ordinary shares were issued? 3. How many ordinary shares are outstanding?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.13AMCP
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