Q9. The equity section of JUJI Corporation as of December 31, 2018, was as follows: Share capital-ordinary, par value P20; authorized 20,000 shares; issued and outstanding 10,000 shares 200,000 Share premium-ordinary 300,000 Retained earnings 750,000 P I P1,250,000 On March 1, 2019, the board of directors declared a 15% share dividend, and accordingly 1,500 additional shares were issued. On March 1, 2019, the fair value of the share was P60 per share. For the two months ended February 28, 2019, JUJI sustained a net loss of P100,000. What amount should JUJI report as retained earnings as of March 1, 2019?

Q9. The equity section of JUJI Corporation as of December 31, 2018, was as follows: Share capital-ordinary, par value P20; authorized 20,000 shares; issued and outstanding 10,000 shares 200,000 Share premium-ordinary 300,000 Retained earnings 750,000 P I P1,250,000 On March 1, 2019, the board of directors declared a 15% share dividend, and accordingly 1,500 additional shares were issued. On March 1, 2019, the fair value of the share was P60 per share. For the two months ended February 28, 2019, JUJI sustained a net loss of P100,000. What amount should JUJI report as retained earnings as of March 1, 2019?

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

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
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