
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Compute the following: (5 points each)
1. Book Value as of December 31, 2019.
2. Book Value per share as of December 31, 2019
3. Book value as of December 31, 2020
4. Book value per share as of December 31, 2020
please provide solutions
thanks!

Transcribed Image Text:Problem 1
The balance sheet of Kangaroo Company as of December 31 is presented below:
Assets
2019
2020
P 45,000
60,000
60,000
70,000
300,000
(45,000)
P490,000
P 60,000
85,000
80,000
100,000
300,000
(80,000)
P545,000
Cash
Marketable Securities
Accounts Receivable (net)
Inventory
Property, Plant and Equipment
Accumulated Depreciation
Total Assets
Liabilities and Shareholder's Equity
Accounts Payable
Short-term Notes Payable
Bonds Payable
Ordinary Shares
Retained Earnings
Total Liabilities and Shareholder's Equity
35,000
50,000
85,000
200,000
120,000
P490,000
45,000
50,000
75,000
225,000
150,000
P545,000
Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo
Company issued additional shares as part of its funding plan.
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