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7/21/2019 Jfinex Accounting Difficult
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1. Vy&Corado Company was organized on January 1, 2011 at which date itissued 100,000 ordinary shares of P10 par vaue at P1! per share. "uring theperiod January 1, 2011 through "ecem#er $1, 2012, Vy&Corado reported netincome of P%!0,000 and paid cash dividend of P2$0,000. n January 10,2012, Vy&Corado purchased ',000 treasury shares at P12 per share. n"ecem#er $1, 2012, Vy&Corado sod %,000 treasury shares at P( per shareand retired the remaining treasury shares.
Co) uses the cost method of accounting for treasury shares. *hat is the totasharehoders+ euityon "ecem#er $1, 2012-
a.1,'(0,00
0c.1,0'(,000
#.1,('0,00
0d.
1,'0,000
2. /rmeneta & Co. is an entity isted on a recognized stoc e)change.eow is an e)tract from its statement of comprehensive income for theyear ended "ecem#er $1, 2011
Pro3t #efore ta) 4,'00,0005ncome ta) e)pense 1,$00,000Pro3t after ta) ',$00,000
5n addition, the entity paid during the year an ordinary dividend of P%00,000 and
a preference dividend of P!00,000 on its redeema#e preferences shares. 6he
entity had P1,000,000 of P! par vaue ordinary shares in issue throughout the
year and authorized share capita of !00,000 ordinary shares. *hat amountshoud #e reported as #asic earnings per share for the year-
a. $1.!c.
$1.4!
#. 24 d. $(
$. 7ugie Company uses straight ine depreciation for its property, pant, andeuipment, which, stated at cost, consisted of the foowing
2012 2011
8and 2!0,000 2!0,000
uidings 1,!0,0001,!0,00
0
9achinery ',!0,000',!00,00
0
6ota ,1!0,000
(,400,00
08ess
:ccumuated "epreciation %,000,000$,400,00
0
!,1!0,000
!,000,000
7ugie+s depreciation e)pense for 2012 and 2011 was !!0,000 and !00,000,
7/21/2019 Jfinex Accounting Difficult
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respectivey. *hat amount was de#ited to accumuated depreciation during2012 #ecause of property, pant, and euipment retirements-
or
a. 22!,000c.
200,000
#. 2!0,000d.
240,000
:ccumuated "epreciation 2012;2011< %,000,000;$,400,000< $00,000
"epreciation 7)pense 2012;2011< !!0,000
:ccumuated "epreciation 2012< !!0,000;$00,000< 2!0,000.
%= : company has a capita empoyed of >200,000. 5t has a cost of capita of 12?
per year. 5ts residua income is >$',000.
*hat is the company+s return on investment-
:. $0?. 2!?C. 1(?". '?
@eturn on investment < Again from investment B cost of investment= cost of
investment
onus
1= 6he euation :