The following data were compiled prior to preparing the balance sheet of the Conviction Corporation as of December 31, 2015: Authorized common stock, P100 par value P4,000,000 Cash dividends payable 160,000 Donated capital 800,000 Gain on sale of treasury stock 80,000 Net unrealized loss on available for sale securities 96,000 Premium on capital stock 320,000 Premium on bonds payable 240,000 Reserve for bond sinking fund 400,000 Reserve for depreciation 600,000 Revaluation increment on property 800,000 Retained earnings unappropriated 720,000 Subscribe capital stock 480,000 Stock subscriptions receivables 120,000 Stock warrants outstanding 200,000 Treasury stock, at cost 144,000 Unissued common stock 800,000 Compute for the following: 1. Common Stock issued 2. Additional Paid in Capital 3. Appropriated Retained Earnings
The following data were compiled prior to preparing the balance sheet of the Conviction Corporation as of December 31, 2015: Authorized common stock, P100 par value P4,000,000 Cash dividends payable 160,000 Donated capital 800,000 Gain on sale of treasury stock 80,000 Net unrealized loss on available for sale securities 96,000 Premium on capital stock 320,000 Premium on bonds payable 240,000 Reserve for bond sinking fund 400,000 Reserve for depreciation 600,000 Revaluation increment on property 800,000 Retained earnings unappropriated 720,000 Subscribe capital stock 480,000 Stock subscriptions receivables 120,000 Stock warrants outstanding 200,000 Treasury stock, at cost 144,000 Unissued common stock 800,000 Compute for the following: 1. Common Stock issued 2. Additional Paid in Capital 3. Appropriated Retained Earnings
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data were compiled prior to preparing the balance sheet of the Conviction
Corporation as of December 31, 2015:
Authorized common stock, P100
par value P4,000,000
Cash dividends payable 160,000
Donated capital 800,000
Gain on sale of treasury stock 80,000
Net unrealized loss on available for sale securities 96,000
Premium on capital stock 320,000
Premium on bonds payable 240,000
Reserve for bond sinking fund 400,000
Reserve for depreciation 600,000
Revaluation increment on property 800,000
Retained earnings unappropriated 720,000
Subscribe capital stock 480,000
Stock subscriptions receivables 120,000
Stock warrants outstanding 200,000
Treasury stock, at cost 144,000
Unissued common stock 800,000
Compute for the following:
1. Common Stock issued
2. Additional Paid in Capital
3. Appropriated Retained Earnings
4. Total Shareholders equity
5. Legal Capital
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