The directors of Canada Corporation, whose P50 par value share capital is currently selling at P60...

 

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The directors of Canada Corporation, whose P50 par value share capital is currently selling at P60 per share, have decided to issue a 10% share dividend. The corporation which has an authorization for 1,000,000 shares had issued 500,000 shares, of which 100,000 are now held as treasury. How many shares are outstanding after the share dividends were issued? 11. Samantha Corporation provided the following data: Dec. 31, 2019 Share Capital (P100 par) Share Premium P5,000,000 2,500,000 5,000,000 Dec. 31, 2020 P5,100,000 2,900,000 Accumulated Profits ? During 2020, the entity declared and paid cash dividends of P750,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding in 2019 aside from the share dividend distribution. The net income for 2020 is P1,500,000. How much is the balance of Accumulated Profits on December 31, 2020? 12. Ampersand Corporation has 10,000 shares of 7% P50 par preference share and 100,000 shares of P4 par value ordinary share outstanding. Two years of preference dividends are in arrears. The corporation declared a cash dividend large enough to pay the preference dividends in arrears, the preference dividend for the current year, and a P1.50 dividend to ordinary shareholders. How much is the total dividend declared? The directors of Canada Corporation, whose P50 par value share capital is currently selling at P60 per share, have decided to issue a 10% share dividend. The corporation which has an authorization for 1,000,000 shares had issued 500,000 shares, of which 100,000 are now held as treasury. How many shares are outstanding after the share dividends were issued? 11. Samantha Corporation provided the following data: Dec. 31, 2019 Share Capital (P100 par) Share Premium P5,000,000 2,500,000 5,000,000 Dec. 31, 2020 P5,100,000 2,900,000 Accumulated Profits ? During 2020, the entity declared and paid cash dividends of P750,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding in 2019 aside from the share dividend distribution. The net income for 2020 is P1,500,000. How much is the balance of Accumulated Profits on December 31, 2020? 12. Ampersand Corporation has 10,000 shares of 7% P50 par preference share and 100,000 shares of P4 par value ordinary share outstanding. Two years of preference dividends are in arrears. The corporation declared a cash dividend large enough to pay the preference dividends in arrears, the preference dividend for the current year, and a P1.50 dividend to ordinary shareholders. How much is the total dividend declared?

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To calculate the balance of Accumulated Profits on December 31 2020 we need to consider the net inco... View the full answer