The following data are extracted from the shareholders' equity section of the statement of financial position of Del Corporation: Ordinary shares, P2 par value - Balance as of December 31, 2010; P1,000,000. Ordinary shares, P2 par value - Balance as of December 31, 2011; P1,020,000. Share premium - Balance as of December 31, 2010; P500,000. Share premium - Balance as of December 31, 2011; P580,000. Retained earnings - Balance as of December 31, 2010; P1,000,000. Retained earnings - Balance as of December 31, 2011; P1,046,000. During 2011, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2011. What is the net income for 2011.*

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On January 2, 2010, Megan Company declared and distributed its only investment in equity securities as dividend. At the time of the declaration, the securities has a carrying value of P500,000 and a related unrealized loss of P100,000. By what amount should Megan Company charge its accumulated profit as a result of the property dividend declaration?*

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On July 1, 2010, Bettina Company's board of directors declared a 10% share dividend. The market price of Bettina's 400,000 outstanding ordinary shares, P50 par value, was P80 per share on the date of declaration. The share dividend was distributed on September 1, 2010 when the market price of the shares was P100 per share. What amount should be charged to the Accumulated Profits and Losses account as a result of the share dividend?*

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What should FROZEN report as total contributed capital in its December 31, 2018 statement of financial position?*

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For the year ended December 31, 2006, the financial records of Planet Corp. reported the ff.: Total revenues - P801,400; total expenses - P601,100; Dividends declared - P25,600. What is the entry to close Income Summary to Retained Earnings? (Input the total debit or credit amount and attach your entry in the google classroom)*

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Venus Company issued 20,000 shares of its P70 par value ordinary shares and 8,000 shares of its P80 par value preference share capital for a total of P1,800,000. At this date, the company's ordinary shares were selling at P80 per share and the preference was selling at P100 per share. (1) What amount of the proceeds should be allocated to the preference shares?*

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What is the par value per share?*

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Jupiter corporation had the following shares outstanding at December 31, 2018: Ordinary shares, par P80 - 320,000; 6% preference shares, par P80 - 160,000. Accumulated profits for dividend distribution amounted to P64,400. No dividends were declared for 2016 and 2017. If the preference share capital is cumulative and fully participating, what is the dividends per share of the preference share? (Round off answers to two decimal places.)*

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A corporation has 4,000 shares of 10% noncumulative non participating preference shares outstanding, par 100 and 10,000 ordinary shares outstanding, par 15. At the end of the year, dividends of 200,000 were declared. How much dividends were paid to preference and ordinary shareholders, respectively? *

2 points

0 and 200,000

100,000 and 100,000

40,000 and 160,000

80,000 and 120,000