Ana Inc. provided the following information for the current year: Current asserts, January 1 P500,000 Property, plant and equipment, January 1 P3,000,000 Noncurrent liabilities, January 1 P1,000,000 Property, pant and equipment, December 31 P4,000,000 Current liabilities, December 31 P300,000 All assets and liabilities are reported at year end. Working capital of P600,000 remain unchanged. Net income for the current year is P400,000. No dividends were declared during the current year. What is the shareholders' equity on December 31? A. 1,800,000 B. 4,800,000 C. 3,800,000 D. 2,800,000
Ana Inc. provided the following information for the current year: Current asserts, January 1 P500,000 Property, plant and equipment, January 1 P3,000,000 Noncurrent liabilities, January 1 P1,000,000 Property, pant and equipment, December 31 P4,000,000 Current liabilities, December 31 P300,000 All assets and liabilities are reported at year end. Working capital of P600,000 remain unchanged. Net income for the current year is P400,000. No dividends were declared during the current year. What is the shareholders' equity on December 31? A. 1,800,000 B. 4,800,000 C. 3,800,000 D. 2,800,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ana Inc. provided the following information for the current year:
Current asserts, January 1 P500,000
Property, plant and equipment, January 1 P3,000,000
Noncurrent liabilities, January 1 P1,000,000
Property, pant and equipment, December 31 P4,000,000
Current liabilities, December 31 P300,000
All assets and liabilities are reported at year end.
Net income for the current year is P400,000.
No dividends were declared during the current year.
What is the shareholders' equity on December 31?
A. 1,800,000
B. 4,800,000
C. 3,800,000
D. 2,800,000
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