Question: Can someone please help me with the step by step solution for this problem? Stockholders' Equity Share Capital Paid - in Capital 8% Preference Shares
Can someone please help me with the step by step solution for this problem?
Stockholders' Equity Share Capital Paid - in Capital 8% Preference Shares - P200 par, 10,000 shares authorized, Issued and _outstanding 1,600,000 Ordinary Shares - P50 par, 30,000 shares authorized and issued and outstanding 1,250,000 Subscribed preference shares, 1,000 shares 220,000 1,470,000 Additional Paid - in Capital Share Premium, 8% Preference Shares 240,000 Share Premium, Ordinary Shares 365,000 Total Paid - in Capital 3,435,000 Less: Treasury Stock - 8% Preferred Shares, 1,000 shares, at cost 240,000 Total Share Capital Retained Earnings 880,000 Total Stockholders' Equity 4,075,000 Based on the above information of the Stockholder's Equity, determine the following. 1. How many preference shares were issued? 8000 shares 2. How many preference share are outstanding? 7000 shares 3. How many ordinary shares were issued? 25000 shares 4. How many ordinary shares are outstanding? 25000 shares 5. How much is the share premium of ordinary shares? 125000 6. How much is the total legal capital contribution? 3070000 7. How much is the total share capital? 3195000 8. What is the issue price of preferred shares? 230 per share 9. What is the issue price of ordinary shares? 55 per share 10 What is the acquisition cost per share of treasury stocks? 240 per share