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On July 1, 2019, 50,000 ordinary shares were issued. The preference dividends
were not declared during 2019. The market price of the ordinary share was P50
on December 31, 2019. What is the book value per ordinary share for 2019?
a. 34.40
c. 38.22
b. 35.20
d. 39.11
5. Ube Company reported the following capital structure during 2019:
Preference share capital, P100 par, 4% cumulative, 25,000 P 2,500,000
shares issued and outstanding
Ordinary share capital, P50 par, 200,000 shares issued 10,000,000
and outstanding
The entity reported net income of P5,000,000 for the year ended December 31,
2019. The entity paid no preference dividends during 2018 and paid P160,000
in preference dividends during 2019. What amount should be reported as basic
earnings per share?
a. 24.20
103 C. 24.80
b. 24.50
d. 25.00


Wasy Company had 700,000 ordinary shares authorized and 300,000 shares
outstanding on January 1, 2019.
January 31
Declared 10% stock dividend
June 30
Purchased 100,000 shares
August 1
Reissued 50,000 shares
November 30
Declared 2-for-1 share split
On December 31, 2019, how many ordinary shares are outstanding?
a. 560,000
C. 630,000
b. 600,000
end to1 006 000,and. 660,000
2. Winnie Company had outstanding 300,000 ordinary shares of P20 par and
60,000 preference shares no-par 8% with a stated value of P50. The preference
shares are cumulative and nonparticipating. Dividends have been paid in every
year except the past two years and the current year. The entity paid dividend of
P500,000 in the current year.
What is the dividend payable to the preference shareholders in the current year?
a. 240,000
c. 500,000
b. 480,000
d. 720,000
On May 31, 2019, Sol Company declared a 10% stock dividend. The market
price of the 30,000 outstanding shares of P20 par value was $90 per share on
that date. The stock dividend was distributed on July 31, 2019, when the share
market price was P100. What amount should be credited to share premium for
the stock dividend?
a. 210,000
c. 270,000ginn
b. 240,000
Saomisled. 300,000
4. Panelo Company provided following data at year-end:
vboog lo lo-stixW
10 2018
10% cumulative preference shares, P50 par 2,000,000
Ordinary shares, P10 par
Share premium
019.000 09
Retained earnings
Net income for the year

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