Reference no: EM132521029
Question - The adjusted trial balance of Valiao Corp. on December 31, 2010 includes the following account balances:
Dividends Payable P40,000
Ordinary Share Capital (P5 par, 500,000 shares authorized) 750,000
Ordinary Share Capital Subscribed (5,000 subscribed) 25,000
Ordinary Share Premium 50,000
10% Preference Share Capital (25,000 shares authorized, 12,000 shares outstanding) 300,000
Preference Share Premium 30,000
Retained Earnings Appropriated for Contingencies 150,000
Retained Earnings Appropriated for Bond Retirement 100,000
Retained Earnings - Unappropriated 450,000
Ordinary Share Capital Dividends Distributable 105,000
Paid-in, Capital from Share Capital Dividend 63,000
Required -
1. What is the number of ordinary shares issued and outstanding?
2. What is the par value of each preferred share?
3. What is the market value of the share capital dividend distributable?