Using the information in MC 9-13, choose the correct answer for each question. Provide a solution.

MC 9-13 The adjusted trial balance of ZZZ Corp. on December 31, 2014 includes the following account balances: P 40,000 750,000 25,000 50,000 Dividends Payable Ordinary Share Capital (P5 par, 500,000 shares authorized) Ordinary Share Capital Subscribed (10,000 shares) Ordinary Share Premium 10% Preference Share Capital (25,000 shares authorized, 12,000 shares outstanding) Preference Share Premium Retained Earnings Appropriated for Contingencies Retained Earnings Appropriated for Bond Retirement Retained Earnings - Unappropriated Ordinary Share Capital Dividends Distributable Paid-in Capital from Share Capital Dividend 300,000 30,000 150,000 100,000 450,000 105,000 63,000 Chapter 9 - Operations, Dividends, Book Value per Share, and Earnings per Share 385 What is the number of ordinary shares issued and outstanding? 5 500,000 b. 150,000 d. 750,000 a. c. MC 9-14 Using the information in MC 9-13, what is the par value for each preference share capital? P10 P25 b. P12 d. P40 a. c. MC 9-15 Using the information in MC 9-13, what is the market value for each ordinary share capital upon the declaration of the share capital dividend? a. P5 c. P10 b. P8 d. P25 MC 9-16 Using the information in MC 9-13, how much is the total amount of Retained Earnings? a. P100,000 c. P450,000 b. P150,000 d. P700,000 MC 9-17 Using the information in MC 9-13, what is the total amount of Share Capital? P1,050,000 C. P1,138,000 b. P1,075,000 d. P1,180,000 a. MC 9-18 Using the information in MC 9-13, what is the total amount of Contributed Capital? P1,050,000 c. P1,363,000 b. P1,323,000 d. P2,063,000 a. MC 9-19 Using the information in MC 9-13, what is the total amount of Retained Earnings available for dividend distribution? P450,000 P600,000 b. P550,000 d. P700,000 c. a. MC 9-20 Using the information in MC 9-13, what is the total amount of shareholders' equity? P1,363,000 c. P2,023,000 b. P2,000,000 d. P2,063,000 a