The following data were compiled prior to preparing the statement of financial position of Arms Corporation. Authorized share capital, P100 par value 4,000,000 Unissued share capital 800,000 Subscribed share capital 480,000 Subscription receivable 120,000 Premium on share capital 320,000 Premium on bonds payable 240,000 Gain on sale of treasury shares 80,000 Donated capital 800,000 Share warrants outstanding 200,000 Reserve for bond sinking fund 400,000 Reserve for treasury shares 144,000 Reserve for depreciation 600,000 Treasury shares, at cost 144,000 Retained earnings, unappropriated 576,000 Cash dividends payable 160,000 Revaluation increment on property 800,000 Net unrealized loss on available for sale securities 96,000 What is the contributed capital of the Arms Company? Group of answer choices 5,080,000 4,960,000 4,816,000 4,736,000

The following data were compiled prior to preparing the statement of financial position of Arms Corporation. Authorized share capital, P100 par value 4,000,000 Unissued share capital 800,000 Subscribed share capital 480,000 Subscription receivable 120,000 Premium on share capital 320,000 Premium on bonds payable 240,000 Gain on sale of treasury shares 80,000 Donated capital 800,000 Share warrants outstanding 200,000 Reserve for bond sinking fund 400,000 Reserve for treasury shares 144,000 Reserve for depreciation 600,000 Treasury shares, at cost 144,000 Retained earnings, unappropriated 576,000 Cash dividends payable 160,000 Revaluation increment on property 800,000 Net unrealized loss on available for sale securities 96,000 What is the contributed capital of the Arms Company? Group of answer choices 5,080,000 4,960,000 4,816,000 4,736,000

Cornerstones of Financial Accounting

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ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

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Use the following information for the next five (5) questions: The following data were compiled prior to preparing the statement of financial position of Arms Corporation. Authorized share capital, P100 par value 4,000,000 Unissued share capital 800,000 Subscribed share capital 480,000 Subscription receivable 120,000 Premium on share capital 320,000 Premium on bonds payable 240,000 Gain on sale of treasury shares 80,000 Donated capital 800,000 Share warrants outstanding 200,000 Reserve for bond sinking fund 400,000 Reserve for treasury shares 144,000 Reserve for depreciation 600,000 Treasury shares, at cost 144,000 Retained earnings, unappropriated 576,000 Cash dividends payable 160,000 Revaluation increment on property 800,000 Net unrealized loss on available for sale securities What is the contributed capital of the Arms Company? Group of answer choices 5,080,000…
Use the following information for the next five (5) questions: The following data were compiled prior to preparing the statement of financial position of Arms Corporation. Authorized share capital, P100 par value 4,000,000 Unissued share capital 800,000 Subscribed share capital 480,000 Subscription receivable 120,000 Premium on share capital 320,000 Premium on bonds payable 240,000 Gain on sale of treasury shares 80,000 Donated capital 800,000 Share warrants outstanding 200,000 Reserve for bond sinking fund 400,000 Reserve for treasury shares 144,000 Reserve for depreciation 600,000 Treasury shares, at cost 144,000 Retained earnings, unappropriated 576,000 Cash dividends payable 160,000 Revaluation increment on property 800,000 Net unrealized loss on available for sale securities 96,000 What is the legal capital of Arms Company?
Use the following information for the next five (5) questions: The following data were compiled prior to preparing the statement of financial position of Arms Corporation. Authorized share capital, P100 par value 4,000,000 Unissued share capital 800,000 Subscribed share capital 480,000 Subscription receivable 120,000 Premium on share capital 320,000 Premium on bonds payable 240,000 Gain on sale of treasury shares 80,000 Donated capital 800,000 Share warrants outstanding 200,000 Reserve for bond sinking fund 400,000 Reserve for treasury shares 144,000 Reserve for depreciation 600,000 Treasury shares, at cost 144,000 Retained earnings, unappropriated 576,000 Cash dividends payable 160,000 Revaluation increment on property 800,000 Net unrealized loss on available for sale securities What is the total share premium of Arms Company? Group of answer choices 1,640,000 1,560,000…
The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:Current Assets P195,000Land 1,320,000Building 660,000Equipment 525,000Total Assets P2,700,000Liabilities P525,000Ordinary Shares, P5 par 900,00Share Premium 825,000Retained Earnings 450,000Total Equities P2,700,000All the assets and liabilities of Arthur were assumed to approximate their fair values except for land and building. It is estimated that the land has a fair value of P2,100,000, and the fair value of the building increased by P480,000. Ezekeil Corporation acquired 80% of Arthur’s outstanding shares for P3,000,000. The non-controlling interest is measured at fair value.Required:a. Determine the goodwill or gain on bargain purchase assuming the consideration paid includes control premium of P852,000. Determine the goodwill or gain on bargain purchase assuming the consideration paid excludes control premium of P138,000 and the fair value of the non-controlling interest is…
Diva, Inc. recorded the following capital stock transactions: Balance Sheet Assets = Liabilities + Stockholders' Equity Common PIC in Excess of Treasury PIC from Stock + Common Stock + Stock + Treasury Stock |(1) 1,092,500 115,000 977,500 |(2) (61,600) (61,600) (3) 49,920 42,240 7,680 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $19 cash per share (2) purchased treasury shares at $22 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? b. What was the par value of the shares issued? $ c. How many shares of treasury stock were acquired? d. How many shares of treasury stock were sold? e. At what price per share was the treasury stock sold? $
Given Below is the Balance sheet of ABC Co. Analyze the Balance Sheet and Calculate the Current Ratio. Liabilities Amount Assets Amount Share Capital 50,000 Fixed Asset 1,24,000 Preference Share Capital 30,000 Short Term Capital 10,000 General Reserve 40,000 Debtors 95,000 Debentures 60,000 Stock 50,000 Trade Payable 10,000 Cash and Bank 15,000 Bank Overdraft 20,000 Discount on Share Issue 6,000 Provision for Tax 40,000 Provision for Depreciation 20,000 3,00,000 3,00,000
A. Find the net proceeds of the stocks on the table below. Expenses Name of Stock Shares Held Selling Price per Share (Commission, taxes and Fees) Net Proceeds 1. Food Corporation 2. Property Holdings 3. Power Corporation 4.Transportation Corporation 100 P1,040.00 P2,640.00 250 P500.00 P1,720.00 80 P1,480.00 P1,880.00 300 P320.00 P2,240.00
Required information [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid The common stock was sold at a price of $36 per share. Required: 1. What is the amount of additional paid-in capital? $ 515,000 $ 890,000. Additional paid-in capital $ 1,110,000 103,000 64,000 $ 770,000
An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What ending balance of Retained Earnings should be reported at year-end?
.. From the following, calculate (a) Debt-Equity Ratio (b) Total Assets to Debt Ratio Equity Share Capital $75,000 Share application money pending allotment $25,000 General Reserve $45,000 Balance in the Statement of Profit & Loss $30,000 Debentures $75,000 Trade Payables $40,000 Outstanding Expenses $10,000
PROBLEM 1 The following data were compiled prior to preparing statement of financial position of the Conviction Corporation:Authorized share capital, P100 par value P 4,000,000Unissued share capital 800,000Subscribed share capital 480,000Subscriptions receivable `120,000Premium on share capital 320,000Premium on bonds payable 240,000Gain on sale of treasury shares 80,000Donated capital 800,000Share warrants outstanding 200,000Reserve for bond sinking fund 400,000Reserve for depreciation 600,000Treasury shares, at cost 144,000Retained earnings, unappropriated 720,000Cash dividends payable 160,000Revaluation increment on property 800,000Net unrealized loss on financial assetsat fair value through OCI 96,000 1. What is the total share premium? 2. What is the total contributed capital? 3. What is the total appropriated earnings?
PROBLEM 1 The following data were compiled prior to preparing statement of financial position of the Conviction Corporation:Authorized share capital, P100 par value P 4,000,000Unissued share capital 800,000Subscribed share capital 480,000Subscriptions receivable `120,000Premium on share capital 320,000Premium on bonds payable 240,000Gain on sale of treasury shares 80,000Donated capital 800,000Share warrants outstanding 200,000Reserve for bond sinking fund 400,000Reserve for depreciation 600,000Treasury shares, at cost 144,000Retained earnings, unappropriated 720,000Cash dividends payable 160,000Revaluation increment on property 800,000Net unrealized loss on financial assetsat fair value through OCI 96,000 1. What is the total legal capital? 2. What is the total shareholders’ equity?

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Authorized share capital, P100 par value	4,000,000
Unissued share capital	800,000
Subscribed share capital	480,000
Subscription receivable	120,000
Premium on share capital	320,000
Premium on bonds payable	240,000
Gain on sale of treasury shares	80,000
Donated capital	800,000
Share warrants outstanding	200,000
Reserve for bond sinking fund	400,000
Reserve for treasury shares	144,000
Reserve for depreciation	600,000
Treasury shares, at cost	144,000
Retained earnings, unappropriated	576,000
Cash dividends payable	160,000
Revaluation increment on property	800,000
Net unrealized loss on available for sale securities	96,000