ABAKA Co. reported the following differences in the statement of financial position accounts on December 31, 2023 and 2022.     Additional information: - Net income for the current year was P1,900,000 - During 2023, ABAKA Co. purchased trading securities for P900,000 cash and sold trading securities costing P500,000 for P800,000. On December 31, 2023, the market value of the remaining trading securities increased to P500,000. - Cash dividend of P500,000 was declared. - Equipment costing P800,000 and having a carrying amount of P550,000 was sold for P650,000. - Equipment costing P3,000,000 was acquired through issuance of long-term debt. - The long-term investment pertains to 20% common stock investment in SANDALS Corp. which was purchased on December 31, 2022. SANDALS Corp. reported 2023 net income at P5,000,000 and declared and paid dividends of P500,000. - 100,000 ordinary shares were issued for P20.   Requirements: Determine the net cash provided by: a) Operating activities b)…

Computing earnings per share, price/earnings ratio, and rate of return on common stockholders’ equity Gullo Company reported these figures for 2018 and 2017: Requirements Compute Gullo Company’s earnings per share for 2018. Assume the company paid the minimum preferred dividend during 2018. Round to the nearest cent. Compute Gullo Company’s price/earnings ratio for 2018. Assume the company’s market price per share of common stock is $9. Round to two decimals. Compute Gullo Company’s rate of return on common stockholders’ equity for 2018. Assume the company paid the minimum preferred dividend during 2018. Round to the nearest whole percent.

The PowerPoint Corporation has two classes of share capital outstanding: 9% (dividend rate), P20 par, Preference and P70 par, Ordinary. During the fiscal year ending December 31, 2012, the company had the equity transactions in chronological order as reflected in the table below. Dividends were paid at the end of the fiscal year on the ordinary share at P1.20 per share and on the preference at the preference rate. Profit for the year was P850,000. How much should be the amount of Preference Share Capital to be shown on the December 31, 2012 statement of financial position? How much should be the amount of Ordinary Share Capital to be shown on the December 31, 2012 statement of financial position? a. P9,450,000 b. P9,310,000 c. P9,130,000 d. P4,725,000

The shareholders’ equity of Kramer Industries includes the data shown below. During 2017, cash dividends of $150 million were declared. Dividends were not declared in 2015 or 2016. ($ in millions) Common stock $200 Paid-in capital—excess of par, common 800 Preferred stock, 10%, nonparticipating 100 Paid-in capital—excess of par, preferred 270 Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock. Assumption A —The preferred stock is noncumulative. Assumption B —The preferred stock is cumulative.

The extract of statement of financial position for the year ended 30 June 2022 for Pears Ltd and Sapodille Ltd are as follows: Extract of statement of financial position for the year ended 30 June 2022 Equity and liabilities                                                  Pears Ltd                Sapodille LtdEquity                                                                           $                                  $ Share capital ($ 1 Each)                                         487,500                         420,000Share premium                                                       300,000                                  -Retained earnings                                                   262,500                          337,500LiabilitiesNon current liabilities                                               187,500                           75,000Current liabilities                                                      150,000                           15,000 On 01 July…