Solution-What is the books value of the ordinary share at

What is the books value of the ordinary share at December

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Reference no: EM132856894

Problem - The Good Doctor Company began operations in January 2019 and reported the following results for each of its three years of operations. 2019 - P520,000 loss; 2020 - P80,000 loss; 2021 - P1,600,000 profit

At December 31, 2020, Good Doctor Company's capital accounts were as follows: 8% Cumulative Preference Share Capital, P100 par, 50,000 shares authorized, issued and outstanding- P5,000,000; Ordinary Share Capital, P10 par, 1,000,000 shares authorized, 750,000 shares issued and outstanding- P7,500,000

Good Doctor Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2019. The corporation law permits dividends only from retained earnings.

What is the books value of the ordinary share at December 31, 2020 assuming that the preference share has a liquidating value of P106 per share?

A. 9.60

B. 9.33

C. 10.00

D. 10.80

Reference no: EM132856894

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What is the books value of the ordinary share at December

Reference no: EM132856894

Reference no: EM132856894

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