Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Choose the correct answer and provide a solution. 18. The June Corporation has 100,000 outstanding shares of P30, par value ordinary share capital on January
Choose the correct answer and provide a solution.
18. The June Corporation has 100,000 outstanding shares of P30, par value ordinary share capital on January 1, 2014. The shares were issued in year 2013 for P50 per share. During 2014, June declared a 3:1 share split. Thereafter, 15,000 shares were reacquired as treasury shares for P15 per share. On December 31, 2014, June accepted a subscription for 5,000 ordinary shares at P20 per share payable within 90 days. What is the balance of the account Ordinary Share Capital at the end of 2014? P2,850,000 6. P3,000,000 b. P2,900,000 d. P3,050,000 win X3 Using the information in No. 18, what is the total shareholders' equity of June Corporation as of December 31, 2014? P3,000,000 S,W,oa c. P5,000,000 (225, b. P4,875,000 10 d. P5,100,000 a. 19. a. 20. Using the information in No. 18, how many ordinary shares are outstanding as of December 31, 2014? 90,000 c. 290,000 b. 285,000 d. 305,000 a. IN UN X3 0Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started