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Ana Inc. provided the following information for the current year: Current asserts, January 1 P500,000 Property, plant and equipment, January 1 P3,000,000 Noncurrent liabilities, January 1 P1,000,000   Property, pant and equipment, December 31 P4,000,000 Current liabilities, December 31 P300,000   All assets and liabilities are reported at year end. Working capital of P600,000 remain unchanged. Net income for the current year is P400,000. No dividends were declared during the current year.   What is the shareholders' equity on December 31? A. 1,800,000 B. 4,800,000 C. 3,800,000 D. 2,800,000

Ana Inc. provided the following information for the current year: Current asserts, January 1 P500,000 Property, plant and equipment, January 1 P3,000,000 Noncurrent liabilities, January 1 P1,000,000   Property, pant and equipment, December 31 P4,000,000 Current liabilities, December 31 P300,000   All assets and liabilities are reported at year end. Working capital of P600,000 remain unchanged. Net income for the current year is P400,000. No dividends were declared during the current year.   What is the shareholders' equity on December 31? A. 1,800,000 B. 4,800,000 C. 3,800,000 D. 2,800,000

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
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Ana Inc. provided the following information for the current year:

Current asserts, January 1 P500,000

Property, plant and equipment, January 1 P3,000,000

Noncurrent liabilities, January 1 P1,000,000

 

Property, pant and equipment, December 31 P4,000,000

Current liabilities, December 31 P300,000

 

All assets and liabilities are reported at year end.

Working capital of P600,000 remain unchanged.

Net income for the current year is P400,000.

No dividends were declared during the current year.

 

What is the shareholders' equity on December 31?

A. 1,800,000
B. 4,800,000
C. 3,800,000
D. 2,800,000

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