Avengers Company provided the following current assets and shareholders' equity at year-end: Cash 600,000 Financial assets at fair value through profit or loss, including cost of P300,000 of Avengers Company shares 1,000,000 Accounts receivable 3,500,000 1,500,000 6,600,000 Inventory Total current assets Share capital 5,000,000 2,000,000 Share premium Retained earnings Total shareholders' equity 500,000 7,500,000 3. What amount should be reported as total shareholders' equity?

Avengers Company provided the following current assets and shareholders' equity at year-end: Cash 600,000 Financial assets at fair value through profit or loss, including cost of P300,000 of Avengers Company shares 1,000,000 Accounts receivable 3,500,000 1,500,000 6,600,000 Inventory Total current assets Share capital 5,000,000 2,000,000 Share premium Retained earnings Total shareholders' equity 500,000 7,500,000 3. What amount should be reported as total shareholders' equity?

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

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 11P: Net Income and Comprehensive Income At the beginning of 2019, JR Companys shareholders equity was as...

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