Solution-Make the shareholders equity section of the

Make the shareholders equity section of the statement

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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?

Reference no: EM132963373

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Make the shareholders equity section of the statement

Reference no: EM132963373

Reference no: EM132963373

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