QUESTION 2 The following accounts and related balances refer to Fiesta Bhd as at December 31, 2021 RM 20,000 3,000 Commo

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Question 2 The Following Accounts And Related Balances Refer To Fiesta Bhd As At December 31 2021 Rm 20 000 3 000 Commo 1 (236.65 KiB) Viewed 41 times

QUESTION 2 The following accounts and related balances refer to Fiesta Bhd as at December 31, 2021 RM 20,000 3,000 Common stock, RM 1.00 par, 50,000 shares authorized, 20,000 shares issued Salary payable Preferred stock, RM 2.50, no-par, 10,000 shares authorized, 2,000 shares issued 50,000 20,000 80,000 75,000 Inventory Long-term notes payable Property, plant & equipment, net Accounts receivable net Accounts payable Retained earnings Paid-in capital in excess of par -common Required 1. Prepare the balance sheet for Fiesta Bhd as at December 31, 2021. (Total Marks 40) Cash Income tax payable 2. Compute the book value per share of Fiesta Bhd common stock. RM 85,000 70,000 205,000 25,000 15,000 12,000 (16 marks) (6 marks) 3. Compute the book value per share of Fiesta Bhd preferred stock. Preferred dividends are RM 5,000 in arrears because Fiesta Bhd has not declared the current year dividend.