Reference no: EM132935381
Questions -
Q1) OH Corporation had the following shareholders equity account before the declaration of cash dividend: 10%, P100 par preference share capital P10,000,000; P50 par ordinary share capital P10,000,000; Share premium preference share P1,000,000; Share premium ordinary share P2,000,000; Retained earnings P20,000,000. There were two years preference shares dividends in arrears as of the beginning of the current year. The company declared a P5,000,000 cash dividend. Determine the allocation of the cash dividend assuming the preference share is non-cumulative and fully participating."
Q2) The following are found in the trial balance of JST Corporation at December 31, 2017: Authorized ordinary share, P50 par value P3,000,000; Subscription receivable P200,000; Unissued ordinary share P1,000,000; Subscribed ordinary share P500,000; Share premium ordinary P100,000. What is the total contributed capital?
Q3) Kim Corporation had the following shareholders equity accounts before the declaration of bonus issue: Ordinary share capital, P100 par, 20,000 shares issued and outstanding P2,000,000; Share premium ordinary P100,000; Retained earnings P1,000,000. The fair market value of ordinary shares on this date is P150 per share. Assuming a 20% bonus issue was declared, what amount of retained earnings will be capitalized?
Q4) The shareholders equity section of JNT Company at the end of the 2018 and 2017 are as follows: (2018) 10% Preference share, P100 par P1,500,000; Ordinary share, P20 par P1,000,000; Share premium-preference P210,000; Share premium-ordinary P400,000 (2017) 10% Preference share, P100 par P800,000; Ordinary share, P20 par P600,000; Share premium-ordinary P200,000. How many preference shares were issued during 2018?
Q5) The following are found in the trial balance of OSH Corporation at December 31, 2018: Authorized ordinary share, P50 par value P3,000,000; Subscription receivable P200,000; Unissued ordinary share P1,000,000; Subscribed ordinary share P500,000; Share premium ordinary P100,000. What is the total contributed capital?
Q6) The shareholders equity section of OP Company at the end of the 2018 and 2017 are as follows: (2018) 10% Preference share, P100 par P1,500,000; Ordinary share, P20 par P1,000,000; Share premium-preference P210,000; Share premium-ordinary P400,000 (2017) 10% Preference share, P100 par P800,000; Ordinary share, P20 par P600,000; Share premium-ordinary P200,000. 11. How many ordinary shares were issued in 2018?
Q7) ST Corporation had the following shareholders equity account before the declaration of cash dividend: 10%, P100 par preference share capital P10,000,000; P50 par ordinary share capital P10,000,000; Share premium preference share P1,000,000; Share premium ordinary share P2,000,000; Retained earnings P20,000,000. There were two years preference shares dividends in arrears as of the beginning of the current year. The company declared a P5,000,000 cash dividend. Determine the allocation of the cash dividend assuming the preference share is non-cumulative and fully participating.