Solution manual fundamentals of accounting by cabrera chapter 07 SM (incomplete)

Chapter 7Corporate Form of Business Organization Multiple Choice Questions Test Material Test Material 7-1 Canada Corporation Shareholders’ Equity June 30, 2007 Contributed Capital Prefe

Chapter 7

Corporate Form of Business Organization

Multiple Choice Questions

Test Material

Test Material 7-1

Canada Corporation Shareholders’ Equity June 30, 2007 Contributed Capital

Preference shares – P100 par value, 8%

cumulative convertible, 2,000 share

authorized and outstanding P200,000

Paid-in capital in excess of par value 10,000 P210,000 Ordinary shares – P10 stated value, 50,000

shares authorized, 30,000 shares

Ordinary shares subscribed 100,000

Paid-in capital in excess of stated value 50,000 450,000

2 Chapter 7

Test Material 7-2

Francisco Corporation Shareholders’ Equity December 31, 2007 Contributed Capital

Preference shares – P100 par value, 9%

cumulative, 20,000 shares authorized

Issued and outstanding, 5,000 shares P500,000

Subscribed but not issued, 1,000 shares 100,000

Paid-in capital in excess of par value –

Ordinary shares – P10 par value, 100,000

shares authorized, 70,000 shares

Paid-in capital in excess of par value 560,000 1,260,000