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What was the total contributed capitalAnswered

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Assignment ID: FG132936833

Question – Raymundo Corporation had the following shareholder’s accounts before the declaration of dividend.

Ordinary share capital, P5 par (authorized, 500,000 shares) 1,500,000

Additional paid in capital 1,560,000

Retained earnings 1,210,000

Market value of the ordinary share on this date is P40 per share.

Assuming that the company declared and distributed 10% share dividend.

Required –

1) What was the total contributed capital after issuance of bonus shares?

2) What amount was charged / debited to retained earnings?

3) How much is the Ordinary share capital after issuance of bonus shares?

4) How much is the additional paid in capital after issuance of bonus shares?

5) If a 30% bonus issue was declared and issued. What amount was charged / debited to retained earnings?

6) How much is the Ordinary share capital after issuance of bonus shares?

7) If a 20% bonus issue was declared and issued. What was the total contributed capital after the distribution of the bonus issue?

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