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

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 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?

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 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

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 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).

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 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

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 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

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 20, P 1,450,000; fair value on September 30, P 1,575,000.
What are the entries on the date of declaration?

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