Answered: P5,000,000 Unissued ordinary share…

P5,000,000 Unissued ordinary share capital 2,000,000 Subscribed ordinary share capital 1,000,000 Subscription Receivable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

The accounts below appear in the December 31, 2019 balance of J Company:

Authorized ordinary share capital P5,000,000

Unissued ordinary share capital 2,000,000

Subscribed ordinary share capital 1,000,000

Subscription Receivable 400,000

Share Premium 500,000

Retained Earnings 1,100,000

Treasury ShareCost 100,000

In its December 31, 2019 balance sheet, J Company should record a total shareholder’s equity of

a.P5,500,000

b.P4,900,000

c.P5,100,000

d.P4,800,000

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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