In Partial Fulfillment Of the course requirements In ACTOR KEY Metropolitan Bank and Trust Company The name of the company is Metropolitan bank and trust company . The nature of the banking business is to connect those in need of funds (borrowers) with those with an excess of funds (savers) while paying a return to the saver less than the interest charged to the borrower (in betting terms, this would be known as the ‘big’ or ‘vigorous’).Banks can lend money to borrowers in a variety of ways depending on how the money supply is defined and the nature of the deposits it holds. A corporation is usually managed by a group of shareholders known as board of directors. According to the Corporation Code, the board of directors must be comprised of at least 5 to 15 natural persons.
The Metronome and trust company has 14 board of directors namely: 1 George S. K. -ray 2. Arthur TTY 3. Francisco C.
Sebastian 4. Fabian S. Dee 5. Robin A.
King 6. Jellies A.Lupus 7. Remedies L Miscalling . Vaccine B. Ballade? As, Jar.
9. Ornate C. Valiance 10. Manuel Q. Benison 11 .
Amelia B. Cabal 12. Edmund A. Go 13. Antonio V. Aviary 14. Ivy Tone So.
The chairman of the board is Mr.. Arthur TTY since April 2012 and Fabian S. Dee is the president of the Metronome and trust company They authorized to issue common shares.
Common share amounting to are to be authorized and a par value of PEP. There were 2,1 1 1 shares that were issued and only 625,000,000 common shares are subscribed.They do have treasury shares worth PEP and they have around 2,000,000 shares, which meaner the price per stock is more or less Pl . 00. They declared cash dividends of PI,1 11,000,000 during the year.
They do not have stock dividends distributable as of the balance sheet date. The company’s net income as of December 31, 2012 was Their Statement of Change in Equity somehow follows the format given in class however, they do not use the exact column headings.They use common stock, hybrid capital securities, capital paid in excess, surplus reserves, surplus, net unrealized main on available-for-sale investments, equity in net unrealized gain on available-for- sale investments of associates, translation adjustment and others, total, non- controlling interest, and total equity. From this research ,we can conclude that the lessons we study in class are actually really used for real life accounting, even with bug banking corporations like Metronome.
These are actually what is being used and it is very important to learn these things because accounting is one crucial part of a business or a corporation.