Rock Company reported the following shareholders equity on December 31, 2022: Share capital, P50 par value 3,000,000 Share premium 600,000 Retained earnings 4,200,000 A 15% share dividend was declared and distributed on December 31, 2022 when entity’s share was selling at P65. What amount should be reported as share capital outstanding? Group of answer choices 3,450,000 3,585,000 3,615,000 4,185,000
Rock Company reported the following shareholders equity on December 31, 2022: Share capital, P50 par value 3,000,000 Share premium 600,000 Retained earnings 4,200,000 A 15% share dividend was declared and distributed on December 31, 2022 when entity’s share was selling at P65. What amount should be reported as share capital outstanding? Group of answer choices 3,450,000 3,585,000 3,615,000 4,185,000
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 5MCQ
Related questions
Question
15.
- Rock Company reported the following shareholders equity on December 31, 2022:
Share capital, P50 par value |
3,000,000 |
Share premium |
600,000 |
|
4,200,000 |
A 15% share dividend was declared and distributed on December 31, 2022 when entity’s share was selling at P65. What amount should be reported as share capital outstanding?
Group of answer choices
3,450,000
3,585,000
3,615,000
4,185,000
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