During the current year, the entity had the following organized and authorized to issue 100,000 shares with P50 At the beginning of current year, Guess Company was Próblem 21-23 (IAA) par value. transactions relating to shareholders' equity: Issued 10,000 shares at P70 per share. Issued 20,000 shares at P80 per share. Reported net income of P1,000,000. Paid cash dividends of P200,000. Purchased 3,000 treasury shares at P100 per share. 1. What amount should be reported as share capital at year-end? a. 1,500,000 b. 3,300,000 c. 1,200,000 d. 1,800,000 2. What amount should be reported as share premium at year-end? 800,000 b. 200,000 600,000 d. a. с. 3. What is the total shareholders' equity at year-end? a. 2,800,000 b. 3,000,000 c. 3,300,000 d. 2,000,000

During the current year, the entity had the following organized and authorized to issue 100,000 shares with P50 At the beginning of current year, Guess Company was Próblem 21-23 (IAA) par value. transactions relating to shareholders' equity: Issued 10,000 shares at P70 per share. Issued 20,000 shares at P80 per share. Reported net income of P1,000,000. Paid cash dividends of P200,000. Purchased 3,000 treasury shares at P100 per share. 1. What amount should be reported as share capital at year-end? a. 1,500,000 b. 3,300,000 c. 1,200,000 d. 1,800,000 2. What amount should be reported as share premium at year-end? 800,000 b. 200,000 600,000 d. a. с. 3. What is the total shareholders' equity at year-end? a. 2,800,000 b. 3,000,000 c. 3,300,000 d. 2,000,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7PA: Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000...

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