Find the: 1. The balance of the “Shareholders’ Equity” account of the company’s balance sheet as of December 31, 20212. The book value per share of the company’s share as of December 31, 2021. Phoebe Company presented the following entries in its "Shareholders' Equity" account forthe year 2021, its initial year of operations:SHAREHOLDERS' EQUITYJan. 011,500,000Issuance of 150,000 shares of capital share, P10 par;authorized 500,000 shares in exchange for realestate property with a market value of P2 million 1,500,000Jan. 15Sale of 200,000 shares of capital share at P12 per share2,400,000Mar. 01Purchase 20,000 shares of its own share at P15 per share300,000Jun. 10Proceeds from sale of 10,000 treasury shares190,000Dec. 31250,000Declared cash dividends payable quarterlybeginning April 1, 1998Dec. 31 Net profit for the year890,000Activate WindoThe balance of the "Shareholders' Equity" account of the company's balance sheet as of tot24:52 cember 31, 2021 is:

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Description: Find the: 1. The balance of the “Shareholders’ Equity” account of the company’s balance sheet as of December 31, 20212. The book value per share of the company’s share as of December 31, 2021. Phoebe Company presented the following entries in its "Sh

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Find the: 1. The balance of the “Shareholders’ Equity” account of the company’s balance sheet as of December 31, 2021 2. The book value per share of the company’s share as of December 31, 2021.

Find the: 1. The balance of the “Shareholders’ Equity” account of the company’s balance sheet as of December 31, 2021 2. The book value per share of the company’s share as of December 31, 2021.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 81PSA

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