I.

Below is the shareholders’ equity section of PCIC Company on December 31,

2018:

Preference share, 7%, P100 par value, 30,000 shares

issued, total liquidation value, P3.2M P 3,000,000
Ordinary share, no par, 50,000 shares, issued 1,500,000
Donated Capital 500,000
Accumulated profits 4,500,000

All preference dividends have been fully paid.

1. How much is the book value per share of ordinary shares?

II. Expand Corporation’s current balance sheet reports the following shareholders’
equity:

5% Cumulative preference share, P100 par value per share

5,000 shares issued and outstanding P 500,000
Ordinary share, P10 par value, 50,000 shares issued
And outstanding 500,000
Share premium 300,000
Accumulated profits 700,000

Dividends in arrears on the preference share amount to P50,000. If Expand were

to be liquidated, the preference shareholders would receive par value plus a
premium of P10 per share.

2. How much would be the book value per share on ordinary share?

III. The shareholders’ equity of Joyful Corporation on December 31, 2018 shows the
following account balances:

10% Preference share, 5,000 shares, P100 par P 500,000

12% Preference share, 6,000 shares, P100 par 600,000
Ordinary share, 10,000 shares, P40 par 400,000
Share premium 320,000
Accumulated profits 480,000

The 10% preference share is cumulative and fully participating, while the 12%
preference share is non-cumulative and fully participating. The last payment of
dividends was on December 31, 2016.

3. What is the book value per share of ordinary shares?

IV. The shareholders’ equity of Sorrowful Company shows the following balances on
December 31, 2018:

10% preference share, cumulative and nonparticipating,

P100 par with a liquidation value of P110, 20,000 shares P 2,000,000
Ordinary share, P100 par, 30,000 shares 3,000,000
Subscribed ordinary shares 1,000,000
Subscription receivables 600,000
Treasury share, 5,000 ordinary shares, at cost 400,000
Share premium 660,000
Accumulated profits and losses 1,580,000

What is the book value per share of ordinary shares, assuming preference
dividends are in arrears since 2016?

V. Exodus Corporation’s shareholders’ equity at December 31, 2018 consisted of the

following:

8% cumulative preference share, P50 par, liquidating value,

P55 per share; authorized, issued and outstanding, 20,000
shares P 1,000,000
Ordinary share, P25 par, 200,000 shares authorized;
100,000 shares issued and outstanding P 2,500,000
Accumulated profits P 400,000

Dividends on preference share have been paid through 2007 but have not been
declared for 2018.

At December 31, 2018, how much is the book value per ordinary share of Exodus
Company?