Problem #19The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018appeared as follows:6% Preference Shares, P75 par, 200,000 shares authorized,70,000 shares issuedOrdinary Shares, P5 stated value, 500,000 shares authorized,share issued andshares outstanding500,000Share Premium-OrdinaryRetained EarningsTotal Share Capital and Retained EarningsLess: Treasury Stock - Ordinary, 10,000 shares, at CostTotal Shareholders' Equity600,0001,000,00040,000PRequired:Provide the answers to each of the following questions:1. What is the total issue price of the preference shares?2. How many ordinary shares were issued?3. How many ordinary shares are outstanding?4. What was the total issue price of the ordinary shares?5. What is the total legal capital of the corporation?6. What is the totál contributed capital of the corporation?7. What is the total shareholders' equity?8. For how much per share was the treasury stock purchased?9. What is the amount of the required preference dividends?

Comment- Multiple Questions Asked. Preference Shares- It refers to the shares that get precedence…

The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018 appeared as follows: 6% Preference Shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary Shares, P5 stated value, 500,000 shares authorized, P ? share issued and Share Premium-Ordinary Retained Earnings shares outstanding 500,000 600,000 1,000,000 Total Share Capital and Retained Earnings Less: Treasury Stock - Ordinary, 10,000 shares, at Cost Total Shareholders' Equity 40,000 Required: Provide the answers to each of the following questions: 1. What is the total issue price of the preference shares? 2. How many ordinary shares were issued? 3. How many ordinary shares are outstanding?

The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018 appeared as follows: 6% Preference Shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary Shares, P5 stated value, 500,000 shares authorized, P ? share issued and Share Premium-Ordinary Retained Earnings shares outstanding 500,000 600,000 1,000,000 Total Share Capital and Retained Earnings Less: Treasury Stock - Ordinary, 10,000 shares, at Cost Total Shareholders' Equity 40,000 Required: Provide the answers to each of the following questions: 1. What is the total issue price of the preference shares? 2. How many ordinary shares were issued? 3. How many ordinary shares are outstanding?

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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