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  • Ia Quiz

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    Lana serene
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    The document provides financial information for 10 different companies, including their share capital, share premium, treasury shares, retained earnings, and total shareholders' equity. It details components like issued shares, subscribed shares, accumulated profits, reserves, and gains or losses related to treasury share transactions. The total shareholders' equity is reported for each company based on the balances of contributing equity accounts.

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    Intermediate Accounting 2- Problem Solving

    Original Title

    IA QUIZ

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    The document provides financial information for 10 different companies, including their share capital, share premium, treasury shares, retained earnings, and total shareholders' equity. It details components like issued shares, subscribed shares, accumulated profits, reserves, and gains or losses related to treasury share transactions. The total shareholders' equity is reported for each company based on the balances of contributing equity accounts.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    12 views2 pages

    Ia Quiz

    Uploaded by

    Lana serene
    The document provides financial information for 10 different companies, including their share capital, share premium, treasury shares, retained earnings, and total shareholders' equity. It details components like issued shares, subscribed shares, accumulated profits, reserves, and gains or losses related to treasury share transactions. The total shareholders' equity is reported for each company based on the balances of contributing equity accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    1.

    HOLLOW CORPORATION

    Preference share issued (10M-3.6M) 6 400 000


    Ordinary share issued (4M-2M) 2 000 000
    Subscribed preference share 600 000
    Subscribed ordinary share 440 000
    Share premium 1 700 000
    Accumulated profit 2 000 000
    Treasury share (1 360 000)
    Shareholders’ equity 11 780 000

    2. STREAM CORPORATION

    Ordinary share capital, par 100 500 000


    Share premium-ordinary 50 000
    Share premium- treasury share 15 000
    Ordinary share option warrants 100 000
    Donated capital 40 000
    Accumulated profits and issues 135 000
    Treasury share, at cost (20 000)
    Total Shareholders’ equity 820 000

    3. LAUGHING
    CORPORATION

    Retained earnings 750 000


    Loss on cancelation of treasury (50 000)
    shares
    Adjusted retained earnings 700 000

    4. P COMPANY

    Total share premium before retirement 480 000


    Divided by: total issued shares before 120 000
    retirement
    Share premium/share from original 4
    issuance

    Share premium 480 000


    Share premium-treasury share (3 200)
    Share premium, Dec31 476 800

    5. LEAVE COMPANY

    Equity share issued 2 000 000


    Add: reserve and surplus 1 440 000
    Treasury share (80 000)
    Total shareholders’ equity 3 360 000
    6. GUIDE CORPORATION

    Before sale After sale Increase


    Ordinary share 2 500 000 2 500 000
    Share premium 500 000 580 000
    Accumulated profits 1 000 000 1 000 000
    Treasury share (320 000) - -
    Total 3 680 000 4 080 000 400 000

    7. FRANCISCO COMPANY

    January 2 240 000


    March 8 100 000
    July 2 105 000
    August 17 30 000
    Total share premium 475 000

    8. N CORPORATION

    Share Capital- ordinary 541 200


    Share premium-ordinary 251 300
    Subscribed share capital-Ordinary 24 000
    Share premium- Retirement of treasury share 1 500
    Total contributed capital 818 000

    9. BUFFET COMPANY

    Preference share capital 5 000 000


    Share premium-preference 2 000 000
    Ordinary share 3 200 000
    Share premium-ordinary 500 000
    Subscribed ordinary share capital 800 000
    Subscription receivable-ordinary ( 400 000)
    Total 11 100 000
    10. TAMARIND COMPANY

    Total shareholders’ fund, Jan 1 6 350 000


    Retirement preference share 55 000
    Ordinary shares 60 000
    Treasury share, issued 16 000
    Profit 300 000
    Total Shareholders’ equity 6 551 000

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