Please answer only 10, 11, 12 Requirements:C. Prepare all necessary entries for the year.D. Compute or provide the answers for the following:8. What is the balance of preference share capital at year-end?9. What is the balance of ordinary share capital at year-end?10. What is the total balance of treasury shares at year-end?11. What is the total outstanding ordinary shares at year-end?12. What is the total issued shares at year-end (add preference and ordinary)13. How much is the balance of the shareholders' equity at year-end?14. How much is the total legal capital?15. How much the total contributed capital? GRAPES Company provided the following data for the year:Sold 25,000 preference shares, 12%, P50 par, at P75• Sold 80,000 ordinary shares of P10, par at P45.• Purchased and retired 10,000 preference shares at P60• Purchased 5,000 shares at P40 to be held as treasury• Sold 3,000 treasury ordinary shares at P50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for P20Retired 500 treasury ordinary shares• Net income for the year was P2,500,000• Appropriated retained earnings equal to the balance of treasury shares.

Treasury shares: A business has bounced back shares, taken them out of circulation, and inserted…

Answered: 10. What is the total balance of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

GRAPES Company provided the following data for the year: a. Sold 25,000 preference shares, 12%, P50 par, at P75 b. Sold 80,000 ordinary shares of P10, par at P45. c. Purchased and retired 10,000 preference shares at P60 d. Purchased 5,000 shares at P40 to be held as treasury e. Sold 3,000 treasury ordinary shares at P50 f. Share split up for ordinary shares, 2 for 1 g. Shareholder donated 10,000 ordinary shares. One-half of these were sold for P20 h. Retired 500 treasury ordinary shares i. Net income for the year was P2,500,000 j. Appropriated retained earnings equal to the balance of treasury shares. What are the total outstanding ordinary shares at year-end? What is the total issued shares at year-end (add preference and ordinary) How much is the balance of the shareholders' equity at year-end?
GRAPES Company provided the following data for the year: a. Sold 25,000 preference shares, 12%, P50 par, at P75 b. Sold 80,000 ordinary shares of P10, par at P45. c. Purchased and retired 10,000 preference shares at P60 d. Purchased 5,000 shares at P40 to be held as treasury e. Sold 3,000 treasury ordinary shares at P50 f. Share split up for ordinary shares, 2 for 1 g. Shareholder donated 10,000 ordinary shares. One-half of these were sold for P20 h. Retired 500 treasury ordinary shares i. Net income for the year was P2,500,000 j. Appropriated retained earnings equal to the balance of treasury shares. What is the balance of preference share capital at year-end? What is the balance of ordinary share capital at year-end? What is the total balance of treasury shares at year-end?
GRAPES Company provided the following data for the year: a. Sold 25,000 preference shares, 12%, P50 par, at P75 b. Sold 80,000 ordinary shares of P10, par at P45. c. Purchased and retired 10,000 preference shares at P60 d. Purchased 5,000 shares at P40 to be held as treasury e. Sold 3,000 treasury ordinary shares at P50 f. Share split up for ordinary shares, 2 for 1 g. Shareholder donated 10,000 ordinary shares. One-half of these were sold for P20 h. Retired 500 treasury ordinary shares i. Net income for the year was P2,500,000 j. Appropriated retained earnings equal to the balance of treasury shares. Prepare all necessary entries for the year
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. Kindly answer please. My question is rejected 4x 1.How much is the total legal capital?2. How much the total contributed capital?
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 1. How much is the total legal capital?2. How much the total contributed capital?
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. kindly aswer the following. my question is rejected twice. Thankyou 14. How much is the total legal capital?15. How much the total contributed capital?
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 13. How much is the balance of the shareholders’ equity at year-end?14. How much is the total legal capital?15. How much the total contributed capital?
A Company had the following long-term investments at the beginning of the current year: Investment in SMC preference shares, 12% P200 par, 5,000 shares 1,200,000 Investment in Benguet ordinary shares, 10,000 shares 1,000,000 During the current year, the following transactions were completed: 1 Purchased 4,000 ordinary shares of SMDC for P300,000. 2 Received 2,000 ordinary shares of Benguet Company in lieu of cash dividends of P10 per share. On this date, Benguet ordinary share has a quoted market of P60. 3 Purchased 6,000 ordinary shares of SMDC for P420,000. 4 Received semiannual dividend on SMC Company. 5 SMDC ordinary share was split on a 2-for-1 basis. 6 Sold 8,000 SDMC shares at P85 less transaction costs of 5%. Use average approach. Required: Prepare a summary of the portfolio of investments stating the number of shares and the corresponding costs. B Company had the following transactions: 2018 Aug-01 Purchased 1,000 shares of Star Company for P60,000. Oct-01 Purchased 8,000…
Honda Company provided the following data during the first year of operations: Sold 30,000 preference shares, 12%, P100 par, at P140. Sold 100,000 ordinary shares of P50 par at P55. Purchased and retired 10,000 preference shares at P120. Purchased 15,000 ordinary shares at P52 to be held as treasury. Sold 10,000 treausry ordinary shares at P60. Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of P60. One half of these shares were sold for P65. Net income for the year was P3,000,000 Appropriated retained earnings equal to the remaining cost of treasury shares. Required: Prepare journal entries to record the transactions. Present the shareholder's equity.
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:C. Prepare all necessary entries for the year.D. Compute or provide the answers for the following:8. What is the balance of preference share capital at year-end?9. What is the balance of ordinary share capital at year-end?
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares. 11. What is the total outstanding ordinary shares at year-end?12. What is the total issued shares at year-end (add preference and ordinary)13. How much is the balance of the shareholders’ equity at year-end?
GRAPES Company provided the following data for the year:• Sold 25,000 preference shares, 12%, ₱50 par, at ₱75• Sold 80,000 ordinary shares of ₱10, par at ₱45.• Purchased and retired 10,000 preference shares at ₱60• Purchased 5,000 ordinary shares at ₱40 to be held as treasury• Sold 3,000 treasury ordinary shares at ₱50• Share split up for ordinary shares, 2 for 1• Shareholders donated 10,000 ordinary shares. One half of these were sold for ₱20• Retired 500 treasury ordinary shares• Net income for the year was ₱2,500,000• Appropriated retained earnings equal to the balance of treasury shares.Requirements:C. Prepare all necessary entries for the year.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

10. What is the total balance of treasury shares at year-end? 11. What is the total outstanding ordinary shares at year-end? 12. What is the total issued shares at year-end (add preference and ordinary)