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On January 5, 2021, Red Company was organized and registered at the Securities and Exchange commission with 100,000 authorized ordinary shares of P100 par value. During the year 2021, the following transactions occurred: 40,000 shares were sold and issued at P105 per share.  Purchased 600 shares of its ordinary share capital at P110 per share. 400 treasury shares were sold at P95. Declared and paid cash dividends of P200,000 and made profit of P830,000. What is the total shareholders’ equity of Red at December 31, 2021? Chocies: P10,602,000 P4,820,000 P4,802,000 P4,352,000

On January 5, 2021, Red Company was organized and registered at the Securities and Exchange commission with 100,000 authorized ordinary shares of P100 par value. During the year 2021, the following transactions occurred: 40,000 shares were sold and issued at P105 per share.  Purchased 600 shares of its ordinary share capital at P110 per share. 400 treasury shares were sold at P95. Declared and paid cash dividends of P200,000 and made profit of P830,000. What is the total shareholders’ equity of Red at December 31, 2021? Chocies: P10,602,000 P4,820,000 P4,802,000 P4,352,000

Intermediate Accounting: Reporting And Analysis
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 January 5, 2021, Red Company was organized and registered at the Securities and Exchange commission with 100,000 authorized ordinary shares of P100 par value. During the year 2021, the following transactions occurred: 40,000 shares were sold and issued at P105 per share.  Purchased 600 shares of its ordinary share capital at P110 per share. 400 treasury shares were sold at P95. Declared and paid cash dividends of P200,000 and made profit of P830,000. What is the total shareholders’ equity of Red at December 31, 2021?

Chocies:

P10,602,000
P4,820,000
P4,802,000
P4,352,000
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