Problem 6. The following data were taken from T'boli Corporation as of 31 December 20B: Ordinary Share - Authorized to issue 10,000 shares at P100 par value per share. Issued 6,000 shares Subscribed Share Capital Subscription Receivable-Ordinary Share Premium 4,000 Accumulated Profits (Losses): Beginning Ending P1,000,000 600,000 100,000 50,000 P150,000 250,000 The only change in Accumulated Profits (Losses) is accounted for profit. Required: 1. Compute Book Value Per Share 2. Compute Basic Earnings Per Share

Problem 6. The following data were taken from T'boli Corporation as of 31 December 20B: Ordinary Share - Authorized to issue 10,000 shares at P100 par value per share. Issued 6,000 shares Subscribed Share Capital Subscription Receivable-Ordinary Share Premium 4,000 Accumulated Profits (Losses): Beginning Ending P1,000,000 600,000 100,000 50,000 P150,000 250,000 The only change in Accumulated Profits (Losses) is accounted for profit. Required: 1. Compute Book Value Per Share 2. Compute Basic Earnings Per Share

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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Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
1. At December 31, the Shareholders’ Equity section shows: Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000 Share Premium-Ordinary P1,400,000 Retained Earnings P 500,000 Treasury Shares, at cost, 120,000 shares P 700,000The book value per share of Ordinary Share is: a. P5.91 b. P6.44 c. P6.50 d. P7.082. Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share for a lump sum of P480,000. How much of the proceeds would be allocated to the common stock? a. P250,000 b. P255,000 c. P218,182 d. P50,000
Problem 6. The following data were taken from the records of Valencia Frutti Corporation: Share Capital, P50 par, 3,000 shares, Authorized 1,000 shares issued Premium on Share Capital P50,000 3,000 Accumulated Profits (Losses) The Corporation reacquires 100 shares at P55.00 per share, and later sold these share for: a) P55.00 per share (at cost) b) P60.00 per share (above cost) c) P50.00 per share (below cost) Required: 1. Journal Entry to record the acquisition of the treasury shares. 2. Journal entry to record the sale of the treasury shares under the three given cases. 10,000
An entity provided the following shareholders' equity at year-end:Ordinary share capital, P100 par, 72,000 shares 7,200,000Subscribed ordinary share capital, 12,000 shares 1,200,000Subscription receivable 400,000Treasury shares, 4,000 at cost 600,000Retained earnings 2,000,000What is the book value per ordinary share?
Problem 2: (Book Value per share with Two Classes of Preference Shares)TINT Corporation presents the following condensed statement of financial position as of the close of the year:Cash ₱ 520,000 Accounts Payable ₱ 550,000Other Assets 1,333,000 Ordinary Share Capital 550,0005% Preference Share Capital 330,0007% Preference Share Capital 220,000Accumulated Profits 203,000Total Assets ₱ 1,853,000 Total Equities ₱ 1,853,000The 5% preference share capital is cumulative, the 7% preference share capital is non-cumulative, but both are fully participating. The par value of all shares is ₱100. Requirements:C. Compute for the book value per share for: 5. Ordinary shares6.a. 5% Preference shares b. 7% Preference shares
Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?
Silver Company provided the following information at 8-8 gido Problem 5-8 (IAA) year-end: Share premium Accounts payable Preference share capital, at par Ordinary share capital, at par Sales 1,000,000 1,100,000 2,000,000 3,000,000 10,000,000 7,800,000 500,000 700,000 1,000,000 Total expenses Treasury shares – ordinary Dividends Retained earnings - beginning What is the shareholders' equity at year-end? a. 8,000,000 b. 8,500,000 c. 5,800,000 d. 8,700,000 000000
2. An entity showed the following data:Share capital, par value P10, 25,000 shares issued 250,000Share Premium 50,000Retained Earnings 150,000Market value of share on declaration date 20Market value of share on distribution date 40a. If a 10% share dividend will be declared, what amount of retained earnings will be capitalized? Prepare the entries on declaration and distribution date.b. If a 25% share dividend will be declared, what amount will be charged to retained earnings? Prepare the entries on declaration and distribution date
Problem 1. The following data refers to the Shareholders' Equity section of Beleleng Corporation at 31 December 20A. 1. Preference share, authorized to issue 5,000 shares at P50 par value per share. Issued shares - 3,000 P150,000 2. Share Premium - Ordinary shares 3. Ordinary Share - Authorized to issue 10,000 shares at 5,000 P100 par value per share. Issued shares - 7,000 700,000 2,000 400,000 4. Share Premium - Preference shares 5. Accumulated Profits and Losses Accumulated Profits and Losses, Jan. 1, 20A Net Profit for the year P150,000 250,000 6. Other components of Equity: Revaluation Increment on Property 10,000 Required: 1. Shareholders' Equity as of December 31, 20A 2. Statement of Changes in Equity for the year ended December 31, 20A
The Shareholders’ Equity section of ACCA Company on December 31 shows the following: Ordinary Share Capital, P50 par, 105,000 shares issued P 5,250,000 Share Premium – ordinary shares 1,010,000 Treasury Shares, 5,000 shares 300,000 Retained Earnings 10,000,000 Required: Provide the journal entries to be made under the following independent assumptions: 1. The company declared 10% share dividends on the ordinary share when the market value per share is PP130. 2. The company declared 20% share dividends on the ordinary share when the market value per share is PP130. 3. The company declared and paid P2 per share liquidating ddividends. 4. Assume instead that the 5,000 treasury shares were declared as share dividends.
Relay Company provided the following data at year-end: Authorized share capital P 5,000,000 Unissued share capital 2,000,000 Subscribed share capital 1,000,000 Subscription receivable 400,000 Share premium 500,000 Retained earnings, unappropriated 600,000 Retained earnings, appropriated 500,000 Treasury shares, at cost 100,000 What total amount should be reported as shareholders' equity? O P5,100,000 P4,800,000 P4,900,000 O P5,500,000
Item Nos. 14 and 15 are based on the following information: revealed the following information: Preference Share Capital, par P 100 Preference Share Premium- Ordinary Share Capital- Ordinary Share Premium-- Subscribed Ordinary Shares Retained Earnings Ordinary Subscriptions Receivable 000.00S The shareholders' equity section of Charlie Company's balance sheet P 2,300,000 805,000 5,250,000 2,750,000 50,000 -- 1,900,000 400,000 - _____