Corporation

Required:

NAME: SCORE: SECTION: PROFESSOR: Problem #30 Preparation of the Shareholders' Equity Section of a Statement of Financial Position The accounts listed below were taken from the general ledger of the Liggayu Corporation on June 30, 2019. Each account has a normal balance. Ordinary Shares P1,300,000 Share Premium- P 325,000 Preference Subscribed Ordinary Shares 100,000 Share Premium-Treasury 17,500 Ordinary Shares Dividend Donated Capital 62,500 Distributable 70,000 Treasury Stock-Ordinary Retained Earnings: (3,000 shares) 117,500 Share Premium-Ordinary 2,075,000 Unappropriated 1,870,000 Appropriated for Plant 7% Preference Shares 250,000 Expansion 125,000 7% Preference Shares- Subscribed 25,000 Additional Information: a. Preference share has a par value of P50 per share. Liggayu was authorized to issue 10,000 shares. The preference share is cumulative and participating. b. Ordinary share has a par value of P5 per share. Liggayu was authorized to issue 500,000 shares. Required: 1. Prepare the shareholders' equity section of Liggayu Corporation's June 30, 2019 statement of financial position. 2. Use the par values of preference and ordinary shares to calculate the number of shares issued and outstanding