FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1. How many preference shares are outstanding as of December 31,2019?

2. How many ordinary shares are issued at December 31,2019?

3. How many ordinary shares are outstanding at December 31,2019?

4. How much is the total shareholder's equity at December 31,2019?

The capital structure of ABC Company at December 31, 2019 are as follows:
12% Preference share capital, P 200 par, 15,000 shares issued
and outstanding
Ordinary share capital, P 30 par, 250,000 shares issued and
Outstanding
Share premium-Preference
Share premium-Ordinary
Retained Earnings
P 3,000,000
7,500,000
900,000
750,000
2,100,000
The following selected transactions relating to shareholder's equity were note in 2019:
a.) Purchased and retired 2,000 preference shares at P 280 each.
b.) Purchased 30,000 of its own ordinary shares at P 35 per share.
c.) Reissued 5,000 treasury shares at P 38 each.
d.) Shareholders donated to the company 20,000 ordinary shares when the market price is P
36 per share.
e.) One half of the donated shares were issued for P 39 each.
f.) Profit for 2019 was P 1,850,000.
g.) The board of directors declared and paid the regular annual dividend on the preference
share and P 1.50 per ordinary share dividend.
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Transcribed Image Text:The capital structure of ABC Company at December 31, 2019 are as follows: 12% Preference share capital, P 200 par, 15,000 shares issued and outstanding Ordinary share capital, P 30 par, 250,000 shares issued and Outstanding Share premium-Preference Share premium-Ordinary Retained Earnings P 3,000,000 7,500,000 900,000 750,000 2,100,000 The following selected transactions relating to shareholder's equity were note in 2019: a.) Purchased and retired 2,000 preference shares at P 280 each. b.) Purchased 30,000 of its own ordinary shares at P 35 per share. c.) Reissued 5,000 treasury shares at P 38 each. d.) Shareholders donated to the company 20,000 ordinary shares when the market price is P 36 per share. e.) One half of the donated shares were issued for P 39 each. f.) Profit for 2019 was P 1,850,000. g.) The board of directors declared and paid the regular annual dividend on the preference share and P 1.50 per ordinary share dividend.
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