What is the balance of ordinary shares account

Assignment Help Accounting Basics
Reference no: EM133113474

Question - On December 31, 2020, the shareholders' equity of BSA Corporation showed 10,000 authorized shares P1,000 par value 6% Preference Share, 1,000 shares issued and outstanding; Share Premium-Preference P300,000; 500,000 shares P5 par value Ordinary shares authorized, 200,000 shares issued, 190,000 shares outstanding; Share Premium-Ordinary P400,000, Retained Earnings P500,000 and Treasury Stock P100,000. No dividends were declared in 2018 and 2019. The treasury shares, originally issued at P6.50 per share, were retired. What is the balance of ordinary shares account after the retirement of the treasury stock?

A) P850,000

B) P900,000

C) P935,000

D) P950,000

Reference no: EM133113474

Questions Cloud

How would you exploit the arbitrage opportunity : Compare the implied quote of MXN/GBP with the direct quote. Is there an arbitrage opportunity? How would you exploit the arbitrage opportunity
Prepare required journal entries to record these transaction : Prepare the required journal entries to record these transactions. Show workings for any foreign exchange gain or loss. Ignore present values
What is the current price of the bonds : 1) Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond issu
Business executives perceptions of ethical leadership : Review the article by Marsh titled "Business Executives' Perceptions of Ethical Leadership and its Development" Allocating Human Resources to Projects
What is the balance of ordinary shares account : The treasury shares, originally issued at P6.50 per share, were retired. What is the balance of ordinary shares account after the retirement of treasury stock
Compute the cost of common equity : Welch's Lawn Care products just paid a dividend of $1.85. This dividend is expected to grow at a constant rate of 3% per year, so the next expected dividend is
Managing dynamic environment : What Type of a Change Agent Are You? Do you feel like you are a change agent or a change manager?
What is the feature of the preference shares : The board declared P300,000 cash dividend. If each ordinary share will receive P0.77, what is the feature of the preference shares
Estimate of jaguar stock price : What is your estimate of Jaguar's stock price given a 10% drop in the real value of the dollar?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Complete the monthly cash budgets

Complete the monthly cash budgets for the second quarter of 2019 using the following format. Note that the ending cash balance for June

  Foreign currency transaction

A foreign currency transaction gain will be recognized by a U.S. company when it has a receivable from a foreign company

  What the markup on fixed costs needed obtain target profit

Crespi Holdings has the following budgeted costs for 20,000 units: What is the markup (percent) on fixed costs needed to obtain a target profit of $300,000

  Lillian is looking for ideas to write about and decides to

lillian is looking for ideas to write about and decides to make a list of everything she can think of that relates to

  What other cash-flow issues should investors look out for

Many have stated that the Statement of Cash Flows, What other cash-flow issues should investors look out for before relying on related ratios and/or statements?

  Determine operating income for Light Company for the month

Light Company has the following information for January: Sales $648,000. Determine operating income for Light Company for the month of January

  Identify data attributes and tables given slainte request

Identify the data attributes and tables needed to answer the question,Given Slainte's request. where they could improve their pricing, marketing, or strategy

  Assume that haig simmons realizes a loss on the futures

haig simmons operates an anthracite coal home heating and delivery service in baltimore and anne arundel counties. she

  Types of evidence during their audit of black oil

Assume that the auditors find serious weaknesses in the internal control of Black Oil, Inc., a producer and distributor of fine wines. Would these internal control weaknesses cause the auditors to rely more or less upon each of the following types..

  Illustrate the fraud triangle model

Illustrate the fraud triangle model, and why it is important for the auditor to consider in his audit process

  How much interest expense will be paid on august

Allstar Company signed a $100,000 mortgage on July 1, 2021 for the purchase of their new garage building. How much interest expense will be paid on August

  What is dreyfuss breakeven level of revenue

Dreyfuss makes earplugs that they sell for $1 each. What is Dreyfuss' breakeven level of revenue? Which costs are considered Fixed Costs

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd