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The shareholders equity section of Batangas Corporation Statement of Financial Position at the end of its first year of operation appears as follows: 7% Preference Share Capital, P100 par value, 100,000 shares authorized... Ordinary Share Capital, P50 par value, 500,000 shares authorized... Share Premium: Preference Shares Ordinary Shares.. Accumulated Profits Total Shareholders' Equity P 7,500,000 12,500,000 P 262,500 1,750,000 2,012,500 3,260,000 P25,272,500

The shareholders equity section of Batangas Corporation Statement of Financial Position at the end of its first year of operation appears as follows: 7% Preference Share Capital, P100 par value, 100,000 shares authorized... Ordinary Share Capital, P50 par value, 500,000 shares authorized... Share Premium: Preference Shares Ordinary Shares.. Accumulated Profits Total Shareholders' Equity P 7,500,000 12,500,000 P 262,500 1,750,000 2,012,500 3,260,000 P25,272,500

FINANCIAL ACCOUNTING
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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What was the issue price  per share of preference shares?

The shareholders equity section of Batangas Corporation Statement of Financial Position at the end of its first year of operation appears as follows: 7% Preference Share Capital, P100 par value, 100,000 shares authorized…..... Ordinary Share Capital, P50 par value, 500,000 shares authorized...... Share Premium: Preference Shares Ordinary Shares..... Accumulated Profits Total Shareholders' Equity P 7,500,000 12,500,000 P 262,500 1,750,000 2,012,500 3,260,000 P25,272,500
Transcribed Image Text:The shareholders equity section of Batangas Corporation Statement of Financial Position at the end of its first year of operation appears as follows: 7% Preference Share Capital, P100 par value, 100,000 shares authorized…..... Ordinary Share Capital, P50 par value, 500,000 shares authorized...... Share Premium: Preference Shares Ordinary Shares..... Accumulated Profits Total Shareholders' Equity P 7,500,000 12,500,000 P 262,500 1,750,000 2,012,500 3,260,000 P25,272,500
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