FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Stockholder's Equity
The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The sto…
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ECE Corporation had the following shareholder’s accounts before the declaration of dividend.

Ordinary share capital, P5 par (authorized, 500,000 shares)    1,500,000

Share premium                                                                                                       1,560,000

Retained earnings                                                                                                 1,210,000

Market value of the ordinary share on this date is P40 per share. The company declared and distributed 10% share dividend.

How much is the share premium after issuance of bonus shares?

Group of answer choices
P2,340,000
P3,240,000
P3,915,000
P3,024,000
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