FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Note: In answering the question, use 2 decimal places for the Book Value per share.
Transcribed Image Text:ABC Co. has authorized share capital of 10,000 8% participating
preference shares with P100 par value and 100,000 ordinary shares
with P10 par value. ABC Co. reported this on December 31,2020:
Preference share capital
Ordinary share capital
Share premium
Retained Earnings
Treasury ordinary shares - 1,000 at cost
Shareholders' equity
P500,000
900,000
90,000
138,000
(20,000)
P1,608,000
Dividends on preference shares are in arrears for the current year. If
ABC Co. is liquidated, how much would be received by Mr. Chris Pin who
holds 20,000 voting shares?
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