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Accounting Quiz 2

The document contains accounting information for share capital, issued shares, treasury shares, share premium, and retained earnings for a company. It includes details on authorized and issued share amounts and par values for ordinary and preference shares, as well as calculations for numbers of shares. Subscription receivables and treasury shares are also accounted for. The document appears to be working through calculations to determine shareholders' equity values.

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Camille G.
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324 views8 pages

Accounting Quiz 2

The document contains accounting information for share capital, issued shares, treasury shares, share premium, and retained earnings for a company. It includes details on authorized and issued share amounts and par values for ordinary and preference shares, as well as calculations for numbers of shares. Subscription receivables and treasury shares are also accounted for. The document appears to be working through calculations to determine shareholders' equity values.

Uploaded by

Camille G.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Prefence share, authorized, P50 10,000,000.00 200,000.

00
Unissued prefence share 3,600,000.00
Ordinary share, authorized P20 4,000,000.00 200,000.00
Unissued ordinary share 2,000,000
Subscription receivable, preference share 380,000
Subscription receivable, ordinary share 360,000
Subscribed preference share 600,000
Subscribed ordinary share 440,000
Treasury ahsre, preference 1,360,000
Share Premium 1,700,000
Accumulated profits and losses 2,000,000

1 Ordinary share 4,000,000.00


Divide:ordinary share, par value 20.00
No. of authorized ordinary share 200,000.00

2 Preference share 10,000,000.00


Divide: preference share, par value 50.00
No. of authorized prefence share 200,000.00

3 Authorized ordinary share 4,000,000.00


less: unissued ordinary share 2,000,000.00
Issued ordinary share 2,000,000.00
Divide ordinary share, par value 20.00
No. of issued ordinary share 100,000.00

4 Authorized prefence share 10,000,000.00


less: unissued preference share 3,600,000.00
Issued preference share 6,400,000.00
divide: preference share, par value 50.00
No. of issued preference share 128,000.00

5 Unissued ordinary shares 2,000,000.00


Subscribed ordinary share 440,000.00
Ordinary shares vailable for subscription 1,560,000.00
divide: ordinary share, par value 20.00
No. of ordinary shares available for subscription 78,000.00

6 Unissued preferred stocks 3,600,000.00


Subscribed preference share 600,000.00
Preference share available for subscription 3,000,000.00
divide: preference share, par value 50.00
No. of preference shares available for subscription 60,000.00
7 Shareholder's equity
Paid In Capital
Preference shares
Authorized Preference Share 10,000,000.00
Less: Unissued Preference shares 3,600,000.00
Issued Preference share 6,400,000.00
Add: Preference Shares Subscribed 600,000.00
600,000.00
7,000,000.00
Less Treasury stock, preference 1,360,000.00

Ordinary Shares
Authorized Ordinary Shares 4,000,000.00
Less: Unissued Orinary Shares 2,000,000.00
Issued Ordinary Share 2,000,000.00
Add: Ordinary Shares Subscribed 440,000.00
440,000.00

Share Premium
Retained Earnings
Total Shareholders Equity

8 Shareholder's equity
Paid In Capital
Preference shares
Authorized Preference Share 10,000,000.00
Less: Unissued Preference shares 3,600,000.00
Issued Preference share 6,400,000.00
Add: Preference Shares Subscribed 600,000.00
Subscription Receivable, preference share 380,000.00 220,000.00
6,620,000.00
Less Treasury stock, preference 1,360,000.00

Ordinary Shares
Authorized Ordinary Shares 4,000,000.00
Less: Unissued Orinary Shares 2,000,000.00
Issued Ordinary Share 2,000,000.00
Add: Ordinary Shares Subscribed 440,000.00
Subscription Receivable, Ordinary Shares 360,000.00 80,000.00

Share Premium

Retained Earnings

Total Shareholders Equity


Given Cash 33,000.00
NCA 150,000.00
Liabilities 50,000.00
Dina, Loan 8,000.00
Dina, Capital 20,000.00 2/5
Dana, Capital 50,000.00 1/10
Dona, Capital 55,000.00 1/2

9 NCA Book Value 150,000.00


Realized Price 75,000.00
Loss on Realization 75,000.00

10 Cash 33,000.00
Realization of NCA 75,000.00
Balance after Realization 108,000.00
Payment of Liabilities 50,000.00
Payment of Loan 8,000.00
Cash available for distribution 50,000.00

11 Dina, Capital 20,000.00


Loss on Realization - 30,000.00
Dina Capital, Balance - 10,000.00

12 Dana, Capital 50,000.00


Loss on Realization - 7,500.00
Balance after Realization 42,500.00
Additional Contribution -
Balance after contribution 42,500.00

13 Dona, Capital 55,000.00


Loss on Realization - 37,500.00
Balance after Realization 17,500.00
5,640,000.00

2,440,000.00

1,700,000.00 9,780,000.00
2,000,000
11,780,000.00

5,260,000.00

2,080,000.00

1,700,000.00 9,040,000.00

2,000,000

11,040,000.00
Realization of NCA Bal After realization Additional Contribution
75,000.00 108,000.00 10,000
150,000.00

- 30,000.00 - 10,000.00 10,000


- 7,500.00 42,500.00
- 37,500.00 17,500.00

150,000 75,000

3/5
10,000
6000
Balance After Contribution
118,000.00

-
42,500.00
17,500.00

75,000
the amount at which the issue
exceeds the par value is
1 share premium credited to

this account title is credited to


represent shareholder's
equity for contributions made
2 share capital in cash, property, or service

one of these items may not


form part of the sharholder's
3 authorized share capital equity section

subscription receivable should be when 100 common shares of


4 debited for 12,000 p100 are subscribed for p120

subscribed share capital for


p10,000, and share premium for refer to no.4, the accountant
5 2,000 should also credit

the corporation's own stock


that has been reacquired by
purchasing it either in the
stock market or in a private
6 treasury stock transaction is called

stocks that are put under


auction for failure of a
subscriber to make good his
subscription within one
7 delinquent stock month from call date is called

p20 par value stock was


reacquired by the corporation
at p50 and resold at p90. the
treasury stock should be
credited at resale date ased
8 50 on
Stcok donated by the
9 debited to Donated Capital stockholder should be
shares issued and then acquired
10 by the corporation treasury shares are

which one does not decrease


11 net income retained earnings
if the excess dividends are
distibuted to both common
and preferred stockholders,
te preferred shares are
12 participating presumed to be
13 Dec-15
14 if it is cumulative stock
15 sufficient unissued shares

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