The shareholders' equity section of PRAY Corp. on December 31, 20x1 appeared as follows:Preference share, P50 par. 250.000 shares authorized, share issuedOrdinary share. P20 par, 500,000 shares authorized share issued and shares outstanding2,000,000Share premium - preference share250.000Share premium - ordinary200,000Retained earnings2.500,000Treasury shares50,000Total Shareholders EquityHOW MUCH IS THE UNAPPROPRIATED RETAINED EARNINGS?

Unappropriated Retained Earnings Unappropriated Retained earning which is described as the amount…

Answered: The shareholders' equity section of…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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Item Nos. 14 and 15 are based on the following information: revealed the following information: Preference Share Capital, par P 100 Preference Share Premium- Ordinary Share Capital- Ordinary Share Premium-- Subscribed Ordinary Shares Retained Earnings Ordinary Subscriptions Receivable 000.00S The shareholders' equity section of Charlie Company's balance sheet P 2,300,000 805,000 5,250,000 2,750,000 50,000 -- 1,900,000 400,000 - _____
1. At December 31, the Shareholders’ Equity section shows: Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000 Share Premium-Ordinary P1,400,000 Retained Earnings P 500,000 Treasury Shares, at cost, 120,000 shares P 700,000The book value per share of Ordinary Share is: a. P5.91 b. P6.44 c. P6.50 d. P7.082. Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share for a lump sum of P480,000. How much of the proceeds would be allocated to the common stock? a. P250,000 b. P255,000 c. P218,182 d. P50,000
1. An abstract of the shareholders’ equity of the Camia Co. on December 31,200A appears as follows:Preference Share, Php35 par value, 150,000 shares issued and outstanding Php5,250,000Ordinary Shares, Php25 par value, 300,000 shares issued and Outstanding 7,500,000Premium on Preference Share 450,000Premium on Ordinary Share 600,000Retained Earnings 1,200,000Treasury Share – Ordinary 60,000 The Board of Directors decided to establish a reserve of Php230,000 for contingencies and Php380,000 for plant expansion. Required:1. Record…
The shareholder’s equity section of FED, Inc. contains the following:Preference share capital of P100 par, 15,000 shares - P1,500,000Preference share premium - P750,000Ordinary share capital of P20 par, 50,000 shares - P1,000,000Ordinary share premium - P250,000Retained Earnings P800,000 1,000 preference shares was reacquired by the company and retired for P200 per share. How much is the total shareholder’s equity after the retirement?
an abstract of the shareholders’ equity of the camia co. on december 31,200a appears as follows: Preference Share, Php35 par value, 150,000 shares issued andoutstanding Php5,250,000Ordinary Shares, Php25 par value, 300,000 shares issued andOutstanding 7,500,000Premium on Preference Share 450,000 Premium on Ordinary Share 600,000Retained Earnings 1,200,000Treasury Share – Ordinary 60,000The Board of Directors decided to establish a reserve of Php230,000 for contingencies and Php380,000 for plant expansion.
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of par…
Problem 1. The following data refers to the Shareholders' Equity section of Beleleng Corporation at 31 December 20A. 1. Preference share, authorized to issue 5,000 shares at P50 par value per share. Issued shares - 3,000 P150,000 2. Share Premium - Ordinary shares 3. Ordinary Share - Authorized to issue 10,000 shares at 5,000 P100 par value per share. Issued shares - 7,000 700,000 2,000 400,000 4. Share Premium - Preference shares 5. Accumulated Profits and Losses Accumulated Profits and Losses, Jan. 1, 20A Net Profit for the year P150,000 250,000 6. Other components of Equity: Revaluation Increment on Property 10,000 Required: 1. Shareholders' Equity as of December 31, 20A 2. Statement of Changes in Equity for the year ended December 31, 20A
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of…
Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of par…
The accounts shown below pertain to P Company at December 31: Authorized Preference Share Capital, P100 par P 800,000 Authorized Ordinary Share Capital, P10 par 400,000 Unissued Preference Share Capital 200,000 Unissued Ordinary Share Capital 150,000 Subscription Receivable, Preference 60,000 Subscription Receivable, Ordinary 50,000 Subscribed Preference Shares Capital 40,000 Subscribed Ordinary Shares Capital 50,000 Treasury Shares, Preference (1,000 shares at cost) 120,000 Paid in Capital (in excess of…
The shareholders' equity section of Casey Inc. as at December 31, 20x0 is as follows: Preferred Shares – Series A, $4, cumulative and fully participating, 25,000 shares outstanding Preferred Shares, Series B, 6%, noncumulative and non participating Common Shares, 600,000 shares outstanding Contributed Surplus, common share repurchases Retained earnings S2,500,000 1,400,000 11,200,000 422,000 5,800,000 The following transactions occurred during the year ended December 31, 20x1: Jan 2 Issued an additional 15,000 Preferred Shares – Series A for S1,500,000. Mar 1 Issued 200,000 common shares for total proceeds of $5,000,000 Mar 8 Incurred underwiter and legal fees related to the common share issue of March 1 of $325,000 Purchased land in exchange for 20,000 common shares. The fair value of the land was $375,000. The common shares were trading for $18.20 per share on April 15. April 15 Declared a 3:1 stock split. The effect of the split was to drop the fair value per share from $18 to $9.…

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