At the beginning of the current year, BFAR Corp. was authorized to issue 100,000 shares with P50 par value. During the year, the company had the following chronological transactions related to shareholders' equity: • Issued 10,000 shares at P70 per share Issued 20,000 shares at P80 per share Reported net income of P1,239,000 . Declared and paid cash dividends of P394,000 . Declared a 10% share dividend. Fair market value on this date is P105 per share. . Distributed the share dividend. Fair market value on this date is P90 per share. . Purchased 3,000 treasury shares at P100 per share How much is the total shareholders' equity at year-end? ●
At the beginning of the current year, BFAR Corp. was authorized to issue 100,000 shares with P50 par value. During the year, the company had the following chronological transactions related to shareholders' equity: • Issued 10,000 shares at P70 per share Issued 20,000 shares at P80 per share Reported net income of P1,239,000 . Declared and paid cash dividends of P394,000 . Declared a 10% share dividend. Fair market value on this date is P105 per share. . Distributed the share dividend. Fair market value on this date is P90 per share. . Purchased 3,000 treasury shares at P100 per share How much is the total shareholders' equity at year-end? ●
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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