The following capital accounts are shown in the statement of financial position of Bick Corporation:...
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The following capital accounts are shown in the statement of financial position of Bick Corporation: Ordinary Share Capital, P100 par, 1,000 shares Share Premium - Ordinary Share Paid in Capital from Treasury Shares Retained Earnings Treasury Shares, 200 shares at cost P100,000 2,000 3,000 75,000 25,000 The whole 200 treasury shares were sold for P20,000. 11. What amount, if any, should be charged to retained earnings account upon sale of the 200 treasury shares? The shareholders' equity of Tack Corporation as of January 1, 2018 is as follows: P2,400,000 Ordinary Share Capital, P20 par, 200,000 shares authorized; 120,000 shares issued and outstanding Share Premium Retained Earnings 280,000 1,540,000 Tack recorded the following transactions during 2018: (a) (b) Acquired 2,000 shares of its ordinary share capital for P70,000. Sold 1,200 treasury shares at P42 per share. Retired the remaining treasury shares. 13. Assuming no other equity transactions occurred during 2018, what should Tack report at December 31, 2018 as additional paid in capital? Deck Corporation was organized on January 1, 2016, at which date it issued 100,000 shares of P10 par ordinary shares at P15 per share. During the period January 1, 2016 through December 31, 2018, Deck reported net profit of P450,000 and paid cash dividends of P230,000. On October 31, 2018, Deck purchased 6,000 ordinary shares at P12 per share. On December 31, 2018, it sold 4,000 treasury shares at P8 per share. 14. shareholders' equity at What is Deck's total December 31, 2018? Zack, Inc. was organized on January 1, 2018 with authorized share capital of 500,000, P10 par value ordinary shares. During 2018, Zack issued 10,000 shares at P14 each, purchased 1,000 treasury shares at P13 per share, and sold 800 of treasury shares at P15 per share. 15. What is the amount of additional paid in capital at December 31, 2018? 16. What is the balance of Ordinary Share Capital as of December 31, 2018
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