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Question 50 1 pts A company has 400 shares of 6% preference share capital outstanding, par value is P50 per share and market value is P80 per share. The amount of dividends for the year on this share capital would be O P12 P1, 200 O P1, 920 O P2, 400 Question 49 1 pts Lexus Corporation purchased 15,000 shares of its P1 par ordinary shares at P10 and subsequently sold 10,500 shares at P20. What is the amount of gain realized from the sale that will be reported in the statement of comprehensive income? P94,500 OP105,000 O P135,000 Bisnar Co. has the following information relating to its shareholders equity as of January 1, 2020 Share capital, 300,000 authorized, P50 par value, 225,000 shares issued, 15,000 held in treasury P11,250,000 Share premium - ordinary 900,000 Retained earnings 3,000,000 Treasury shares, at cost 825,000 The following events transpired in 2020: . On March 31, 2020, Bisnar reissued 3,000 of its treasury shares for P59 per share. On June 1, 2020, Bisnar reissued 3,750 of its treasury shares for P50 each On December 1, 2020, Bisnar retired 1,500 ordinary shares for P49 per share. In relation to June 1, 2020 transaction, what is the journal entry of Bisnar Co. to record the transaction? Question 47 1 pts Raymond Corporation has 7,500 ordinary shares in its treasury with par value of P100 and cost of P120. The shares were originally issued for P110 per share. The account "Share premium - Treasury" had a balance of P30,000. At the end of 2020, Raymond decided to retire its treasury shares. Which of the following is incorrect? O Treasury shares account will be credited by P750,000 upon retirement O Retained earnings will be debited by P45,000 when the treasury shares are retired o Ordinary shares and Share Premium-ordinary will be debited by P750,000 and P75,000, respectively, as a result of the retirement of treasury shares Share premium - Treasury will have no balance at the end of the year after the retirement had been recorded 1 pts Question 46 Guimba Corporation has the following data on stock issued and outstanding on December 31, 2020: 10% Preference share, P10 par 450,000 Ordinary share capital, P10 par 300,000 Retained earnings 450,000 Dividends were in arrears for 2 years, excluding the current year. The Board of Directors declared P300,000 cash dividends. Assume that the preferred share is non-cumulative and participating. The ordinary dividend per share is? O 2 3 O 1