On December 29, 2009, Bay Company was registered at the Securities and Exchange Commission with 100,000 authorized ordinary share of P100 par value. On the same date, 40,000 shares were sold and issued at P105 per share. On May 14, 2010, the corporation purchased 600 shares of its ordinary share capital at P110 per share. On September 15, 2010, 400 treasury shares were sold at P95. During 2010, the corporation realized a net income after tax of P830,000 and paid a cash dividend of P20,000. What is the total shareholders’ equity of Bay on December 31, 2010? A. P10, 602,000 B. P4, 982,000 C. P4, 802,000 D. P4, 352,000
On December 29, 2009, Bay Company was registered at the Securities and Exchange Commission with 100,000 authorized ordinary share of P100 par value. On the same date, 40,000 shares were sold and issued at P105 per share. On May 14, 2010, the corporation purchased 600 shares of its ordinary share capital at P110 per share. On September 15, 2010, 400 treasury shares were sold at P95. During 2010, the corporation realized a net income after tax of P830,000 and paid a cash dividend of P20,000. What is the total shareholders’ equity of Bay on December 31, 2010? A. P10, 602,000 B. P4, 982,000 C. P4, 802,000 D. P4, 352,000
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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On December 29, 2009, Bay Company was registered at the Securities and Exchange Commission with 100,000 authorized ordinary share of P100 par value. On the same date, 40,000 shares were sold and issued at P105 per share. On May 14, 2010, the corporation purchased 600 shares of its ordinary share capital at P110 per share. On September 15, 2010, 400 treasury shares were sold at P95. During 2010, the corporation realized a net income after tax of P830,000 and paid a cash dividend of P20,000. What is the total shareholders’ equity of Bay on December 31, 2010?
A. P10, 602,000
B. P4, 982,000
C. P4, 802,000
D. P4, 352,000
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