Doffy Company issued 200,000 shares of P5 par value at P10 per share. On January 1, 2020, the retained earnings amounted to P 3,000,000. In March 2016, the entity reacquired 50,000 treasury shares at P 20 per share. In June 2020, the entity sold 10,000 of these shares to corporate officers for P25 per share. The entity used the cost method to record treasury shares. Net income for the year ended December 31, 2020 was P600,000.   What amount should be reported as unappropriated retained earnings at year-end?

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A: Formula: Share capital = Number of shares issued x Issue price.

Q: Andoy Corp. was organized on January 1, 2017 with authorized capital of 100,000 ordinary shares, P20…

A: Total no. of shares issued = 25000 + 1000 + 5000                                          = 31,000…

Q: Princess company began operations on January 1, 2020 by issuing at 15 per share one-half of the…

A: given   Princess company began operations on January 1, 2020 by issuing at 15 per share one-half of…

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A: Introduction Retained earnings are the earnings that is left after dividend distribution to…

Q: Macanas Company had 125,000 shares issued as of January 1, 2018, which includes 25,000 treasury…

A: Answer) Calculation of Number of shares issued Number of shares issued = Total number of shares…

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A: Treasury stock represents the value of own shares that have been purchased by the entity.

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A: The company is required to have maximum shares in the market for the growth of the business and long…

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A: RE refers to Retained Earnings which is the amount of NI (Net Income) that is left or retained by…

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A: Introduction: Earnings per share denotes the fraction of a company's profits that is available to…

Q: Specific Motor Inc., makes and sells commercial vehicles. By December 31, 2018, the company reported…

A: Financial StatementFinancial Statement is the combination of the three major reports on a business.…

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A: Share split in the business is one in which one share of the company is split or broken into…

Q: Doffy Company issued 200,000 shares of P5 par value at P10 per share. On January 1, 2020, the…

A: Retained earnings are the plowed back profits which are used to make disbursements, to pay…

Q: Weisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares and 50,000 ordinary…

A: A cumulative preferred stock implies that a preferred stockholder is entitled to receive dividends…

Q: retained earnings?

A: Definition: Retained Earnings: It is the amount that is obtained after distribution of dividend to…

Q: Sandhill Corporation had 3,500,000 shares of common stock outstanding on January 1, 2021. On April…

A: Basic Earnings Per Share = (Net Income - preferred dividend) / Weighted Average no. of common shares…

Q: On January 1, 2020, Volume Company had the following account balance carried over from the previous…

A: The money raised by issuing regular or preferred shares is referred to as a company's share capital.…

Q: Kenneth Company was organized on January 1, 2015 at which date it issued 100,000 common stock of P10…

A: Introduction: Shareholders' equity which is also known as net worth of the company, is the owners…

Q: The total shareholders' equity on Decembe

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Q: During 2021, its first year of operations, McCollum Tool Works entered into the following…

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Q: Specific Motor Inc., makes and sells commercial vehicles. By December 31, 2018, the company reported…

A: Effect of given transactions on balance sheet:

Q: Rayan Corporation was organized on January 1, 2020, with an authorization of 1,200,000 ordinary…

A: The total number of share premium as of December 31, 2020 = Cost of Treasury shares - Cost of…

Q: Jay-ar Corp. issued 20,000 shares of P5 par common stock at P10 per share. On December 31, 2017,…

A: when we prepare the balance sheet of the company then generally there are two category equity and…

Q: On January 1, 2021, Wildhorse Corporation had 980,000 shares of common stock outstanding. On March…

A: Note: Assume that the accounting period of Company starts in January and ends in December of every…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Balance in ordinary shares before split=Number of shares×Par value=400,000×P25=P 10,000,000

Q: The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following:…

A:

Q: On January 1, 2020, Addy Company had 110,000 shares issued and 100,000 shares outstanding. The…

A: Gven, Shares outstanding on Jan 1, 2020 = 100,000 shares Shares issued on march 1 = 15,000 Treasury…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: CFAS Company issued 200,000 shares of P5 par value at P10 per share. On January 1, 2022, the…

A: Under the cost method, the purchase of treasury stock is recorded by debiting treasury stock account…

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A: Book value is calculated by the historical costs of stocks.

Q: Specific Motor Inc., makes and sells commercial vehicles. By December 31, 2018, the company reported…

A: Required journal entries:

Q: Specific Motor Inc., makes and sells commercial vehicles. By December 31, 2018, the company reported…

A: Effect of given transactions on income statement: Results of the excel sheet is as follows:

Q: Specific Motor Inc., makes and sells commercial vehicles. By December 31, 2018, the company reported…

A: The income statement is a financial statement that represents the financial performance of the…

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A: Share premium represents the value higher than par value of the shares issued.

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A: Date Particulars   No. of shares 01/01-31/12 610000 * 12/12 610000 * 1.04 634400 28/02-31/12…

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A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open…

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A: difference in repurchase price and issue price are transferred to additional paid in…

Q: The shareholders' equity section of Good Life Company shows the following on December 31, 2018:…

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On December 31, 2020, Dow Steel Corporation had 740,000 shares of common stock and 314,000 shares of…

A: Dow's basic earnings per share Dow's diluted earnings per share

Q: basic earnings per share for preference shareholders

A: In respect of cumulative preference shares, dividend is accumulated until paid. Hence, the…

Q: Doffy Company issued 200,000 shares of P5 par value at P10 per share. On January 1, 2020, the…

A: Retained earnings refer to the accumulated portion of the profits of business that is not…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On December 31, 2020, Dow Steel Corporation had 710,000 shares of common stock and 41,000 shares of…

A: Earnings per share = Net income available to Equity shareholders/weighted average number of shares

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A: Cost method of treasury stock is simple as it considers the cost that is paid to repurchase that…

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A: The Shareholder's equity shows the amount of contribution by the owners to the capital of the…

Q: ABC Co. issued share capital of 20,000 shares, P5 par, at P10 per share. The accumulated profits on…

A: Treasury Stock refers to the company’s own outstanding stock bought back from stockholders. These…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.