Assignment 6: Akawnting

Share Capital

The Shareholders' Equity section of Masaya Corporation as of December 31, 2015 is presented below:

6% Preference Shares, P 75 par, 200,000 shares authorized,     70,000 shares issued                                                                                         P ? Ordinary Shares, P5 stated value, 500,000 shares authorized,     ______share issued and _____ shares outstanding                      500,000 Share Premium - Ordinary                                                                         600,000 Retained Earnings                                                                                      500,000 Total Shareholders' Equity                                                                           ?                                                                                                                       ========

Required:

1. What is the total issue price (per share) of the preference shares?
2. How many ordinary shares were issued?
3. What is the amount of the minimum subscription?
4. Compute the total legal capital of the corporation 

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That Thing Called Tadhana

• Number 10   =====>>> it offers tips on how to forget your Ex-girlfriend/boyfriend...

• Number 9  =====>>> truly, loneliness also loves company...

• Number 8  =====>>>  you will realize how important it is to do what you love...

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Assignment 5: Akawnting

Installment Liquidation

Luna, Ingred and Tony decided to liquidate their partnership on March 31, 2015.  On this date, their capital balances were as follows:

Luna                              P 150,000

 Ingred                                 90,000 

    Tony                                 120,000    

The partners share profits and losses in 40%, 30% and 30% to Luna, Ingred and Tony respectively.  The net income from January 1 to March 31, 2015 was 65,000.  Assume Tony received P 21,000 cash from the liquidation process.

 

1. Compute the amount of loss/gain on realization
2. How much cash must be received by each partner?

For BSA 1B: Answer the problem given inside the class

Post your answers on or before 4 pm this day, February 16, 2015

Babatngon, Leyte: Home of the peace and quite people

Babatngon, Leyte

February 15, 2015 - some faculty, students and staff of the College of Business and Entrepreneurship of the Eastern Visayas State University visited Babatngon, Leyte, to conduct a field observation in consonance with the College extension program SPACE (Sustainable Program and Advocacy for Community Extension).  The place could be considered as the home of peace and quite people. 

The field observation was conducted with the permission granted by the Brgy. Captain.  The filed observation consisted of roving the area in District I, talking with the folks, interviewing about their livelihoods, resources, and other pertinent information that will be used in the conduct and  implementation  of possible extension activities for the district in the future.

District I: Regular Session

The Brgy captain and her officials were conducting their regular session when the team arrived.  We asked permission if we could conduct the said field observation.  Fortunately, the whole body agreed and was happy to know that the college is so serious about the program.

Team COBE: planning how to conduct the field observation

So the team immediately got the map of the District and divided the team into four groups for the conduct of the said field observation.  We were so happy that the people were approachable and accommodating.  After an hour or two, we were done with the interview and we were able to gather some pertinent information about the people, their livelihoods and background.

After the conduct of the field observation: a photo with the Brgy Captain (lady in yellow, 4th from right)