Anna company presented the following account balances in the shareholders’ equity section for the year ended December 31, 2018: Preference share capital, 12% P50 par, P3,000,000, Ordinary share capital, P100 par, P6,000,000 and deficit, (P1,350,000). No dividends have been paid on the preference share since 2016. Determine the book value per share under the following conditions: a. Preference share is preferred as to assets b. Preference share is preferred as to dividen
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Problem 6 (Adapted)
Anna company presented the following account balances in the shareholders’ equity section
for the year ended December 31, 2018:
Ordinary share capital, P100 par, P6,000,000 and deficit, (P1,350,000). No dividends have
been paid on the preference share since 2016.
Determine the book value per share under the following conditions:
a. Preference share is preferred as to assets
b. Preference share is preferred as to dividend
Step by step
Solved in 2 steps
- Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.Book Value Per share Problem 2 (Adapted)The following account balances appear in the shareholders’ equity section of Wendelove Company on December 31, 2018:Preference share capital, 12% P100 4,000,000Ordinary share capital, P100 16,000,000Share premium 8,000,000Retained earnings 4,000,000 Dividends have been paid on the preference share up to December 31, 2016.Determine the book value per preference share if the preference share is:a. cumulative and fully participatingb. noncumulative and non participatingc. cumulative and non participatingFollowing are the Balance Sheets of X Ltd. for the year 2014 and 2015. 2014 2015 sin '000 sin '00 L Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Equity Share Capital 8% Redeemable Preference Share Capital (b) Reserves and Surplus : General Reserve Surplus Account (2) Non-current Liabilities 200 320 150 90 40 70 15 38 Debentures 100 90 (3) Current Liabilities Creditors 55 83 Bills Payable Proposed Dividend (Treating it as non-current liability) Provision for Tax (NCL) 20 16 42 50 40 50 Total Equity and Liabilities 662 807 II. Assets (1) Non-current Assets Fixed Assets: Land & Building Plant & Machinery Intangible Asset : Goodwill 200 80 170 200 80 100 (2) Current Assets Stock Debtors B/R Cash & Bank Balances 59 250 30 18 87 150 20 25 Total Assets 662 807 Additional Information: (1) (1) (I) (IV) An interim dividend of $ 20,000 has been paid in 2015. $ 35,000 income tax was paid during the year 2015. Dividend of $ 28,000 was paid during the year 2015. During the year…
- The Mike Corporation’s statement of financial position shows total shareholders’ equity of P3,150,000 as of December 31, 2016. a. What is the book value per share, assuming that the company has only one class of share capital outstanding consisting of 50,000, P10 par ordinary shares?A. P10.00B. P63.00C. P70.20D. P73.00 b. What is the book value per ordinary share assuming that the company has two classes of share capital outstanding consisting of the following: 5,000, P100 par value preference shares with a liquidation value of P120 per share and 50,000, P10 par value ordinary shares?A. P10.00B. P51.00C. P53.00D. P63.00The following is the Balance sheet of Moin lilited as on 31st march 2020. You are required to comment on the Liquidity of the Company Liabilities Amount 5,00,000 Equity Share Capital 8% preference Share Capital 10%long term loans 14%debentures Sundry creditors Bills payable Provision for taxation Proposed preference dividend Bank overdraft 3,00,000 3,25,000 1,50,000 75,000 30,000 70,000 24,000 20,000 14,94,000 Assets Goodwill Premises Machinery Trade investments Short term investment Stock Debtors Bills payable Cash Prepaid expenses Amount 1,00,000 3,00,000 4,50,000 1,00,000 44,000 1,75,000 1,75,000 1,25,000 10,000 15,000 14,94,0004. HAT Company provided the following information for the 2018: Total Assets at December 31 4,500,000 Share Capital at December 31 2,000,000 Share Premium at December 31 200,000 Treasury Share (at cost) 300,000 The debt-to-equity ratio (total liability over total shareholders’ equity) is 25% at December 31, 2018. What is the retained earnings unappropriated on December 31, 2018? Group of answer choices 2,300,000 1,700,000 1,400,000 1,100,000
- ILLUSTRATION 13. Following is the Balance Sheet of Trymore Engineering Company Ltd. as at 31st March, 2016 : I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : 3,000 Equity Shares of 100 each fully paid 2,000 6% Cumulative Preference Shares of 100 each fully paid (b) Reserves and Surplus: Surplus A/c (Negative Balance) Non-current Liabilities 10% Debentures 3,00,000 2,00,000 (-) 3,00,000 (2) 2,50,000 (3) Current Liabilities Sundry Creditors (Unsecured) Interest due on Debentures 3,50,000 50,000 Total Equity and Liabilities 8,50,000 II. Assets (1) Non-current Assets (a) Fixed Assets : Plant & Machinery 2,00,000 Sundry Fixed Assets Intangible Assets : Goodwill 30,000 80,000 40,000 2,00,000 Patents (b) Investments (Market Value 1,50,000) (2) Current Assets Stock Sundry Debtors : More than 6 months 1,00,000 25,000 Others Cash & Bank Balances 1,25,000 50,000 Total Assets 8,50,000 Note : Preference Dividends are in arrears for 5 years. The Company feels that the worst is…Given below are the Balance Sheets of A Ltd. and P Ltd. as on 31st March. 2016. On this date A Ltd. absorbs P Ltd. A Ltd. P Ltd. I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : 10% 1,000 Pref. Shares of $ 100 each Equity Shares of $ 10 each fully paid (b) Reserves and Surplus : Dividend Equalisation Reserve General Reserve Surplus A/c (subject to payment of dividend on equity and preference shares) 1,00,000 10,00,000 8,00,000 1,00,000 80,000 20,000 1,90,000 (2) Non-current Liabilities Debentures 1,20,000 (3) Current Liabilities Bills Payable- 20,000 Other Liabilities 1,80,000 1,80,000 Total Equity and Liabilities 14,00,000 13,90,000 п. Аssets (1) Non-eurrent Assets Fixed Assets 6,00,000 8,00,000 Investments at Cost : 2,000 Equity Shares of P Ltd. @ $ 12 each Debentures of P Ltd. (Face Value $ 40,000) 24,000 36,000 20,000 7,20,000 Other Investments (2) Current Assets 10,000 5,80,000 Bills Receivable Others Totał Assets | 14,00,000 13,90,000 The whole of the…The trial balance of Titan Company on December 31, 2018 includes the following accounts: Share capital P1,500,000Share premium 500,000Treasury shares, at cost 200,000Retained earnings unappropriated 600,000Retained earnings appropriated 300,000 What amount should be reported as total shareholders’ equity?a. P2,700,000b. P3,100,000c. P2,600,000d. P2,300,000
- Consider the following partial income statements and balance sheets for Lillard Corp. For the year ended December 31, Net income Less income attributable to noncontrolling 5,700 interests Net income attributable to Lillard Corp. 100,400 107,300 Lillard Corp. shareholders' equity Noncontrolling interests Total equity What is Lillard's return on equity for 2024? 11.7% O 11.5% 12.3% 11.9% 2024 2023 108,000 113,000 11.1% 7,600 Dec. 31, 2024 Dec. 31, 2023 861,000 888,000 32,400 30,600 893,400 918,600Analysis and Interpretation of Liquidity and Solvency Balance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income For Years Ended December 31 ($ millions) Net sales Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses Gain on sale of businesses Total operating expenses 16,682 16,055 7,602 6,626 1,821 1,870 (547) (586) 25,558 23,965 Operating income 7,207 7,692 Other expense, net* 207 144 Income before income taxes 7,000 7,548 Provision for income taxes 1,637 2,679 Net income including noncontrolling interest 5,363 4,869 Less: Net income attributable to noncontrolling interest 14 11 Net income attributable to 3M $5,349 $4,858 * Interest expense, gross is $350 million in 2018 and $322 million in 2017. Current assets 3M COMPANY Consolidated Balance Sheets At December 31 ($ millions) Cash and cash equivalents Marketable securities Accounts receivable Total inventories Prepaids…8. Jupiter corporation had the following shares outstanding at December 31, 2018: Ordinary shares, par P80 - 320,000; 6% preference shares, par P80 - 160,000. Accumulated profits for dividend distribution amounted to P64,400. No dividends were declared for 2016 and 2017. If the preference share capital is cumulative and fully participating, what is the dividends per share of the preference share?
