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17. The following balances are shown in the shareholders’ equity of Rumoosh Company on December 31, 2018: Preference share capita, P10 par, 100,000 shares 1,000,000 Ordinary share capital, P10 par, 500,000 shares 5,000,000 Share premium – preference 50,000 Share premium – ordinary 200,000 Retained earnings 100,000 Total 6,350,000 During 2019, the following transactions pertaining to the shareholders’ equity were completed: Retirement of 5,000 preference shares at P11 per share. Purchase of 5,000 ordinary shares at P12 per share. Share split, ordinary, 2 for 1. Reissue of 2,000 treasury shares at P8 per share. Profit for 2019, P300,000. The total shareholders’ equity on December 31, 2019 is Group of answer choices A. 6,556,000 B. 6,551,000 C. 6,350,000 D. 6,251,000

17. The following balances are shown in the shareholders’ equity of Rumoosh Company on December 31, 2018: Preference share capita, P10 par, 100,000 shares 1,000,000 Ordinary share capital, P10 par, 500,000 shares 5,000,000 Share premium – preference 50,000 Share premium – ordinary 200,000 Retained earnings 100,000 Total 6,350,000 During 2019, the following transactions pertaining to the shareholders’ equity were completed: Retirement of 5,000 preference shares at P11 per share. Purchase of 5,000 ordinary shares at P12 per share. Share split, ordinary, 2 for 1. Reissue of 2,000 treasury shares at P8 per share. Profit for 2019, P300,000. The total shareholders’ equity on December 31, 2019 is Group of answer choices A. 6,556,000 B. 6,551,000 C. 6,350,000 D. 6,251,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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17. 

The following balances are shown in the shareholders’ equity of Rumoosh Company on December 31, 2018:

Preference share capita, P10 par, 100,000 shares

   1,000,000

Ordinary share capital, P10 par, 500,000 shares

5,000,000

Share premium – preference

50,000

Share premium – ordinary

200,000

Retained earnings

   100,000

Total

6,350,000

 

During 2019, the following transactions pertaining to the shareholders’ equity were completed:

  • Retirement of 5,000 preference shares at P11 per share.
  • Purchase of 5,000 ordinary shares at P12 per share.
  • Share split, ordinary, 2 for 1.
  • Reissue of 2,000 treasury shares at P8 per share.
  • Profit for 2019, P300,000.

 

The total shareholders’ equity on December 31, 2019 is

Group of answer choices
A. 6,556,000
B. 6,551,000
C. 6,350,000
D. 6,251,000
 
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