Joshua Corporation's stockholders' equity at December 31, 20x5 consisted of the following: 8% cumulative preference share, P50 par, authorized, P1,000,000 issued, and outstanding 20,000 shares Ordinary Shares P25 par; 200,000 shares authorized 2, 500,000 100,000 shares issued and outstanding Retained Earnings 400,000 Dividends on preferred have been paid through 20x4 but have not been declared for 20x5. Compute for the book value per ordinary share at December 31, 20x5. (Round- off answer to two decimal places)

Joshua Corporation's stockholders' equity at December 31, 20x5 consisted of the following: 8% cumulative preference share, P50 par, authorized, P1,000,000 issued, and outstanding 20,000 shares Ordinary Shares P25 par; 200,000 shares authorized 2, 500,000 100,000 shares issued and outstanding Retained Earnings 400,000 Dividends on preferred have been paid through 20x4 but have not been declared for 20x5. Compute for the book value per ordinary share at December 31, 20x5. (Round- off answer to two decimal places)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $8,000,000 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g.…
Texas Inc. has 4,724 shares of 8%, $100 par value cumulative preferred stock and 83,877 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $80.00 per share b. $4,724 in total )c. $37,792 in total Od. $6,710 in total
A company with 118,808 authorized shares of $5 par common stock issued 31,951 shares at $16 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $33 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? Oa. $17,893 Ob. $21,088 Oc. $3,195 Od. $78,413
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How much is the BOOK VALUE PER SHARE for PREFERENCE shares considering that the preference shares are cumulative and participating?
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PROVIDE COMPUTATION
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