Reference no: EM132939523
Question - The Stockholder's Equity of Metro Cebu Central Chemicals, Incorporated on December 31, 2006 appeared as follows:
Common Stock, authorized 3,000 shares par value P100.
Issued 1,000 shares of which 200 shares are in the treasury P100,000
Appropriated for Retained Earnings P20,000
Free or Unappropriated 60,000 80,000
Total Contributed Capital and Retained Earnings P180,000
Less: Cost of Treasury Stock 20,000
Total Stockholder's Equity P160,000
Required -
1. How many shares are still unissued?
2. How many shares are outstanding?
3. How much amount of Retained Earnings that can be available for dividend declaration?
4. If a 10% stock divided is declared, how many shares of stock will be taken out from the Unissued shares?
5. How much amount of Retained Earnings account will be capitalized on a 10% stock dividends declared?
6. After the declaration of stock dividends, the total stockholder's equity will show an amount of?
7. Assuming the 200 shares in the treasury will be sold at P105 per share, how much amount will be credited to "Additional Paid In- Treasury Stock" account?
8. Assuming that a 20% cash dividend is declared instead of a 10% stock dividend, how much is the amount of cash dividends payable to stockholders on record?
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