ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. On November 15, 2022, the company declared a 10% stock dividend distributable to sharehold of record as of October 31, 2022, payable on January 15, 2023. The fair market value of AB Corporation as of: October 31, 2022-P12.00 November 15, 2022-P13.00 December 31, 2022-P11.75 January 15, 2023 P11.00 1
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- ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. On November 15, 2022, the company declared a 10% stock dividend distributable to shareholders of record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABC Corporation as of October 31, 2022-P12.00 ⚫November 15, 2022-P13.00 ⚫December 31, 2022-P11.75 ⚫ January 15, 2023-P11.00 Entry to record the declaration of dividend should include an entry to retained earnings amounting to?ABC, Inc. has 30,o00 shares of P10 par value ordinary share capital issued and outstanding as of June 30, 2021. On that date it declared a 10% share dividend payable on October 1, 2021. On June 30, ABC, Inc. shares were trading at P27 per share at the stock market. As a result of this share capital dividend, what amount should ABC's total shareholders' equity increase or (decrease)? * O PO О Р30.000 P51,000 O P(8,000)Pat Company reported the following information on December 31, 2020. Determine the legal capital: * P230 000 80 500 525.000 275,000 5.000 Preference Share, P100 par Share Premium - Preference Ordinary Share, P15 par Share Premium- Ordinary Subscribed Ordinary Share Retained Earnings Notes Payable Subscription receivable- Ordinary 190,000 400,000 40,000 Your answer This is a required question
- ABC Corporation provided you the following information on January 01, 2021: Share capital, P10 par P4,000,000 Share premium 800,000 Retained earnings 3,500,000 Share transactions for the year 2021: Feb 10 – Declared 10% share dividend. Market value of each share – P20 March 10 – Issued and distributed share dividends declared on February 10 June 15 - Declared 20% share dividend. Market value of each share – P25 July 01 - Issued and distributed share dividends declared on June 15 December 03 – Declared cash dividend of P2 per share Retained earnings for the year 2021 would decrease by: a.3,616,000 b.2,336,000 c.3,616,000 d.1,056,000ABC Corporation provided you the following information on January 01, 2021: Share capital, P10 par P4,000,000 Share premium 800,000 Retained earnings 3,500,000 Share transactions for the year 2021: Feb 10 – Declared 10% share dividend. Market value of each share – P20 March 10 – Issued and distributed share dividends declared on February 10 June 15 - Declared 20% share dividend. Market value of each share – P25 July 01 - Issued and distributed share dividends declared on June 15 December 03 – Declared cash dividend of P2 per share Journal entry on March 10 would include credit to: a. Retained Earnings – 400,000 b. Share premium – 400,000 c. Share capital – 800,000 d. Share dividend payable – 800,0009. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2019. The following are data available at Dec 31, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition) P1 Most recent transaction price per share P2 Transaction cost per share (current) P.50 If ABC classified these shares as investment in stocks-FVOCI, how much was the initial carrying amount? 2,000 3,000 3,500 4,000
- c) Faela Corporation has the following share capital balances as of December 31, 2020: 12% Cumulative and participating Preference Share Capital, P20 par value P 2,500,000 Ordinary Share Capital, P10 par value 1,500,000 The last dividend paid was in the year 2017. On December 28, 2020, the corporation declared P2,000,000 cash dividend to be paid on January 15, 2021 to shareholders of record December 31, 2020. How much dividend should be distributed to ordinary and preference shareholders, respectively? How much is the cash dividend per preference and ordinary share?ABC began operations in January 2019 and reported the following results for each of its three years of operations. 2019 – P520,000 loss; 2020 – P80,000 loss; 2021 – P1,600,000 profit• At December 31, 2020, ABC Company’s capital accounts were as follows: 8% Cumulative Preference Share Capital, P100 par, 50,000 shares authorized, issued and outstanding- P5,000,000; Ordinary Share Capital, P10 par, 1,000,000 shares authorized, 750,000 shares issued and outstanding- P7,500,000• ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2019. The corporation law permits dividends only from retained earnings.What is the book value of the ordinary share at December 31, 2020 assuming that the preference share has a liquidating value of P106 per share?ABC began operations in January 2019 and reported the following results for each of its three years of operations. 2019 – P520,000 loss; 2020 – P80,000 loss; 2021 – P1,600,000 profit• At December 31, 2020, ABC Company’s capital accounts were as follows: 8% Cumulative Preference Share Capital, P100 par, 50,000 shares authorized, issued and outstanding- P5,000,000; Ordinary Share Capital, P10 par, 1,000,000 shares authorized, 750,000 shares issued and outstanding- P7,500,000• ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2019. The corporation law permits dividends only from retained earnings.What is the book value of the ordinary share at December 31, 2020 assuming that the preference share has a liquidating value of P106 per share? A. P10.80 B. P9.60 C. P9.33 D. P10.00
- 1. Mack Company reported the following outstanding share capital on December 31, 2020: - 30,000 preference shares, 5% cumulative, par value P10, fully participating as to dividends. No dividends were in arrears. - 200,000 ordinary shares, par value P1. On December 31, 2019, the entity declared dividends of P100,000. What was the amount of dividends payable to ordinary share holders? a. P34,000 b. P47,500 c. P40,000 d. P10,0002. Knicks Corporation was organized on January 1, 2018 with authorized capital of P 2,000,000, P 20 par value. Subsequently, incorporators subscribed for 25,000 shares at P 24. How much must be paid up upon subscription to comply with the requirement of the Securities and Exchange Commission?Required to answer. Single choice. a. P125,000 b. P500,000 c. P600,000 d. P150,0003. On June 1, 2015, Golden Warriors Corporation declared a share capital dividend entitling its shareholders to one additional share for each share held. At…16. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2019. The following are data available at Dec 31, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition) P1 Most recent transaction price per share P2 Transaction cost per share (current) P.50 If ABC classified these shares as held for trading. How much was the initial carrying amount? 2,000 2,500 3,000 4,000On May 1, 2020, ABC Corporation, a newly formed company had the following share capital issued and outstanding:· Ordinary share capital, P10 par, 20,000 shares originally issued for P30 per share. · Preference share capital, P100 par, 600 shares originally issued for P 500 per share. 21. What is the amount of Ordinary share capital that ABC Corporation should report in its May 1, 2020 statement of shareholder’s equity? a. 60,000 b. 200,000 c. 400,000 d. 640,000 22. Based on Item 21, what is the amount of Preference share capital that ABC Corporation should report in its May 1, 2020 statement of shareholder’s equity? a. 60,000 b. 200,000 c. 400,000 d. 640,000 23. Based on Item 21, what is the amount of additional paid in capital that ABC Corporation should report in its May 1, 2020 statement of shareholder’s equity? a. 200,000 b. 240,000 c. 400,000 d. 640,000 24. Based on Item 21, what is the amount of contributed…