The following data are taken from the ledger of EVA Co. Retained Earnings Particulars 01/01/2017 Balance 06/30/2017 Dividends paid 12/31/2017 Net income for 2017 02/07/2018 Premium on share capital 04/30/2018 Loss on sale of land 09/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 07/01/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 Date Debit Credit P80,600 P25,000 42,500 10,000 5,000 20,000 5,800 40,000 1,600 33,700 Unrealized loss on FV OCI securities 3,400 What is the correct balance of Retained earnings on December 31, 2019?
The following data are taken from the ledger of EVA Co. Retained Earnings Particulars 01/01/2017 Balance 06/30/2017 Dividends paid 12/31/2017 Net income for 2017 02/07/2018 Premium on share capital 04/30/2018 Loss on sale of land 09/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 07/01/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 Date Debit Credit P80,600 P25,000 42,500 10,000 5,000 20,000 5,800 40,000 1,600 33,700 Unrealized loss on FV OCI securities 3,400 What is the correct balance of Retained earnings on December 31, 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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 8MC: Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde...
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WHAT IS THE CORRECT BALANCE OF
Transcribed Image Text:The following data are taken from the ledger of EVA Co.
Retained Earnings
Date
Particulars
Debit
Credit
01/01/2017 Balance
06/30/2017 Dividends paid
12/31/2017 Net income for 2017
02/07/2018
04/30/2018
09/30/2018 Dividends paid
12/31/2018
P80,600
P25,000
42,500
10,000
Premium on share capital
Loss on sale of land
5,000
20,000
Net income for 2018
5,800
Revaluation surplus
12/31/2018
07/01/2019
12/31/2019
40,000
Gain on sale of treasury stock
Net income 2019
Unrealized loss on FV OCI securities
1,600
33,700
3,400
What is the correct balance of Retained earnings on December 31, 2019?
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