If ABC Co. is liquidated, how much would be received by Mr. Chris Pin who holds 20,000 voting shares? P361,600 P249,000 P240,000 P237,400 answer not given ABC Co. has authorized share capital of 10,000 8% cumulativepreference shares with P100 par value and 100,000 ordinaryshares with P10 par value. ABC Co. reported this on December31,2020:Preference share capitalP500,000900,000Ordinary share capitalShare premiumRetained Earnings90,000138,000Treasury ordinary shares – 1,000 at costShareholders' equity(20,000)P1,608,000-Dividends on preference shares are in arrears for the currentyear. If ABC Co. is liquidated, how much would be received by MrChris Pin who holds 20,000 voting shares?

Voting shares are the shares which provide right to the shareholders to vote in the decision making…

ABC Co. has authorized share capital of 10,000 8% cumulative preference shares with P100 par value and 100,000 ordinary shares with P10 par value. ABC Co. reported this on December 31,2020: Preference share capital P500,000 Ordinary share capital Share premium Retained Earnings 900,000 90,000 138,000 Treasury ordinary shares – 1,000 at cost Shareholders' equity (20,000) P1,608,000 Dividends on preference shares are in arrears for the current year. If ABC Co. is liquidated, how much would be received by Mr Chris Pin who holds 20,000 voting shares?

ABC Co. has authorized share capital of 10,000 8% cumulative preference shares with P100 par value and 100,000 ordinary shares with P10 par value. ABC Co. reported this on December 31,2020: Preference share capital P500,000 Ordinary share capital Share premium Retained Earnings 900,000 90,000 138,000 Treasury ordinary shares – 1,000 at cost Shareholders' equity (20,000) P1,608,000 Dividends on preference shares are in arrears for the current year. If ABC Co. is liquidated, how much would be received by Mr Chris Pin who holds 20,000 voting shares?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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