Question
The adjusted trial balance of ZZZ Corp. on December 31, 2010 includes the following account balances: Dividends Payable P 40,000 Ordinary Share Capital (P5 par,
The adjusted trial balance of ZZZ Corp. on December 31, 2010 includes the following account balances:
Dividends Payable P 40,000
Ordinary Share Capital (P5 par, 500,000 shares authorized) P 750,000
Ordinary Share Capital Subscribed (5,000 subscribed) P 25,000
Ordinary Share Premium P 50,000
10% Preference Share Capital (25,000 shares authorized, 12,000 shares outstanding) P 300,000
Preference Share Premium P 30,000
Retained Earnings Appropriated for Contingencies P 150,000
Retained Earnings Appropriated for Bond Retirement P 100,000
Retained Earnings - Unappropriated P 450,000
Ordinary Share Capital Dividends Distributable P 105,000
Paid-in, Capital from Share Capital Dividend P 63,000
1. What is the number of ordinary shares issued and outstanding?
2. What is the par value of each preferred share?
3. What is the market value of the share capital dividend distributable?
4. What is the total amount of retained earnings?
5. What is the total amount of share capital?
6. What is the total amount of contributed capital?
7. What is the total amount of retained available for dividend distribution?
8. What is the total amount of shareholders equity?
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Cima Official Exam Practice Kit Fundamentals Of Ethics Corporate Governance And Business Law Certificate In Business Accounting
Authors: Larry Mead
4th Edition
1856177092, 978-1856177092
