Share capital, P5 par 600,000 shares authorized, 200,000 shares issued and outstanding Share premium Retained earnings Total shareholders' equity 1,000,000 6,000,000 2,800,000 9,800,000 During the current year, the following chronological transactions affected shareholders' equity: - Reacquired 10,000 shares at P30 per share to be held as treasury. Declared and issued a 30% share dividend. Declared and paid cash dividend of P10 per share. Net income for the current year amounted to P3,000,000.
Share capital, P5 par 600,000 shares authorized, 200,000 shares issued and outstanding Share premium Retained earnings Total shareholders' equity 1,000,000 6,000,000 2,800,000 9,800,000 During the current year, the following chronological transactions affected shareholders' equity: - Reacquired 10,000 shares at P30 per share to be held as treasury. Declared and issued a 30% share dividend. Declared and paid cash dividend of P10 per share. Net income for the current year amounted to P3,000,000.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...
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Transcribed Image Text:2. What amount should be reported as unappropriated :
retained earnings at year-end? *
At the beginning of current year, Cash Company reported the following shareholders' equity:
Share capital, P5 par 600,000 shares authorized,
200,000 shares issued and outstanding
1,000,000
Share premium
Retained earnings
Total shareholders' equity
6,000,000
2,800,000
9,800,000
During the current year, the following chronological transactions affected shareholders' equity:
Reacquired 10,000 shares at P30 per share to be held as treasury.
Declared and issued a 30% share dividend.
Declared and paid cash dividend of P10 per share.
Net income for the current year amounted to P3,000,000.
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