The shareholder's Equity section of James Malikhain is presented below:

 
Ordinary shares, P 20 par value, authorized 1,000,000  shares 
Issued and Outstanding 400,000 shares
 
Ordinary Share premium
Retained Earnings
Total shareholders' equity
    
A 15% share dividend was declared with a fair value of ordinary shares at P 25 per
share. Compute for the outstanding number of shares, balances in the Ordinary Share
Capital account, Ordinary Share Premium Account, Total Retained Earning and Total
Shareholders' Equity after effecting the transactions above.

The statement of financial position for Cardenas Corporation just prior to quasi-
reorganization was shown below:
 
Cardenas Corporation
Statement of Financial Position
As of July 31, 20x2
 
Assets  
Current Assets P 400,000
Land 200,000
Buildings and Equipment 1,700,000
Less: Accumulated Depreciation-Buildings and
(600,0000
Equipment
Total Assets P 1,700,000
   
Liabilities and Shareholders' Equity  
Current Liabilities P 200,000
Ordinary Share Capital (par P50) 1,600,000
Ordinary Share Premium 320,000
Retained Earnings (deficit) (420,000)
Total Liabilities and Shareholder's Equity P 1,700,000
   
 
On August 15, 20x2, the shareholders approved a reorganization plan with these
provisions:

 Gross buildings and equipment are to be adjusted to their current value P

1,400,000; the accumulated depreciation is to reflect 40% depreciation on the
revised value.
 The Ordinary Share capital is to be reduced to a par value of P 20 per share.
 The deficit is to be applied to the ordinary share premium ; any excess is to be
charged to the ordinary share premium from the reduction in value assigned to
the ordinary share capital created by the restatement of the ordinary share
capital.

After effecting the reorganization plan, the balance of retained earnings is

Upon organization on January 1, 20x2, Optimum Inc. was authorized to issue 200,000
shares of P 10 par ordinary shares in multiples of 100 shares. During 20x2, 110,000
shares were sold at P 65 per share; 6,000 shares were later reacquired as treasury
shares at P 72 per share. A share split of 2 for 1 on all issued shares was approved on
December 31, 20x2. During 20x3, these dividend and treasury share transactions
occurred:
 
April 12 Declared and paid a 10% share dividend on all outstanding shares.
Oct 17 All treasury shares were sold at P 81 per share.
Dec4 Declared and paid these dividends:
 P 1 cash dividend per share for ordinary shares outstanding
 
 Property dividend of P 1 share of Hershey Co. ordinary shares for each 10
  Hershey Co. ordinary share was P 25 with a current market value of P 30.

  What are the entries on December 4 pertaining to the cash dividends?

 
 

The Grand Terminal Corporation had the following classes of shares outstanding as of
December 31, 20x5:
  Ordinary shares, P 20 par value, 20,000 shares outstanding
 Preference shares, 8 percent, P 100 par value, cumulative and fully
participating , 2000 shares outstanding

NO dividends were paid on preference shares for the year 20x3 and 20x4. On
December 31, 20x5, a total of P200,000 cash dividend was declared.
 
How much did the total shareholders' equity change as a result of the transactions
above? Write your answer on the space provided (number only, omit peso sign and
comma).Round your answer to nearest peso.

The statement of financial position for Cardenas Corporation just prior to quasi-
reorganization was shown below:
 
Cardenas Corporation
Statement of Financial Position
As of July 31, 20x2
 
Assets  
Current Assets P 400,000
Land 200,000
Buildings and Equipment 1,700,000
Less: Accumulated Depreciation-Buildings and
(600,0000
Equipment
Total Assets P 1,700,000
   
Liabilities and Shareholders' Equity  
Current Liabilities P 200,000
Ordinary Share Capital (par P50) 1,600,000
Ordinary Share Premium 320,000
Retained Earnings (deficit) (420,000)
Total Liabilities and Shareholder's Equity P 1,700,000
   
 
On August 15, 20x2, the shareholders approved a reorganization plan with these
provisions:
  Gross buildings and equipment are to be adjusted to their current value P
1,100,000; the accumulated depreciation is to reflect 40% depreciation on the
revised value.
 The Ordinary Share capital is to be reduced to a par value of P 20 per share.
 The deficit is to be applied to the ordinary share premium ; any excess is to be
charged to the ordinary share premium from the reduction in value assigned to
the ordinary share capital created by the restatement of the ordinary share
capital.

After effecting the reorganization plan, the balance of retained earnings is

The Grand Terminal Corporation had the following classes of shares outstanding as of
December 31, 20x5:

 Ordinary shares, P 20 par value, 20,000 shares outstanding

 Preference shares, 8 percent, P 100 par value, cumulative , 2000 shares
outstanding

NO dividends were paid on preference shares for the year 20x3 and 20x4. On
December 31, 20x5, a total of P200,000 cash dividend was declared.
 
Compute the amount of dividends payable for preference shares. Write your answer
on the space provided (number only, omit peso sign and comma).

The shareholder's Equity section of James Malikhain is presented below:

 
Ordinary shares, P 20 par value, authorized 1,000,000  shares 
Issued and Outstanding 400,000 shares
 
Ordinary Share premium
Retained Earnings
Total shareholders' equity
    
A 100% share dividend was declared by the company when the fair value is P25 per
share. Compute for the outstanding number of shares, balances in the Ordinary Share
Capital account, Ordinary Share Premium Account, Total Retained Earning and Total
Shareholders' Equity after effecting the transactions above.

The following information pertains to Rudolph Corp. for the year ended September
30, 2022.
 
Net Income P 75,000

Retained Earnings, October 1, 2021  860,000

Cash dividends declared 16,400

Share dividends declared 41,000
Understatement of depreciation expense of 2018 and 2019-pretax 62,000

Tax rate 30%

 
Compute for the retained earnings balance on September 30, 2022.

The statement of financial position for Cardenas Corporation just prior to quasi-
reorganization was shown below:
 
Cardenas Corporation
Statement of Financial Position
As of July 31, 20x2
 
Assets  
Current Assets P 400,000
Land 200,000
Buildings and Equipment 1,700,000
Less: Accumulated Depreciation-Buildings and
(600,0000
Equipment
Total Assets P 1,700,000
   
Liabilities and Shareholders' Equity  
Current Liabilities P 200,000
Ordinary Share Capital (par P50) 1,600,000
Ordinary Share Premium 320,000
Retained Earnings (deficit) (420,000)
Total Liabilities and Shareholder's Equity P 1,700,000
   
 
On August 15, 20x2, the shareholders approved a reorganization plan with these
provisions:

 Gross buildings and equipment are to be adjusted to their current value P

1,400,000; the accumulated depreciation is to reflect 40% depreciation on the
revised value.
 The Ordinary Share capital is to be reduced to a par value of P 20 per share.
 The deficit is to be applied to the ordinary share premium ; any excess is to be
charged to the ordinary share premium from the reduction in value assigned to
the ordinary share capital created by the restatement of the ordinary share
capital.

Provide the journal entries to effect the reorganization plan. Select all that applies.

On September 20, 20x2, Nizoral Corporation declared the distribution of the

following dividend to its shareholders of record as of September 30, 20x2.

 Investment in 100,000 shares of ABC Corporation shares classified as equity

investments at fair value through profit or loss, carrying amount, P 1,600,000;
fair value on September 20, P 1,450,000; fair value on September 30, P
1,575,000. What are the entries on the date of declaration?