Reference no: EM132963373
Question - ABC Company has two classes of share capital outstanding: 10%, P20 par preference and P1 par ordinary. During the fiscal year ended November 31, 2020, the company was active in transactions affecting the Shareholders' equity. The following summarizes these transactions:
Types of Transactions
a. Issue of Preference Share: 8,000 s..;@P26
b. Issue of Ordinary Share: 25,000 s..;@ P65
c. Reacquisition and retirement of Preference Share: 4,000 shares @ P29
d. Purchase of treasury stock - ordinary (reported at cost): 10,000 shares@ P70
e. Share split - ordinary: 2 for 1
f. Reissuance of treasury stock - ordinary (after share split): 10,000 shares@55
Balances of the accounts in the Shareholders' Equity Section of November 30, 2019, balance sheet were:
Preference Share, 60,000 shares P 1,200,000
Ordinary Share, 200,000 shares 200,000
Share Premium - preference 300,000
Share Premium - ordinary 12,600,000
Retained earnings 780,000
Required - Make the shareholders equity section of the statement of financial position?