Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beginning of the year. During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder’s equity at the end of the year? P3,700,000 P3,420,000 P1,340,000 P3,380,000

Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beginning of the year. During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder’s equity at the end of the year? P3,700,000 P3,420,000 P1,340,000 P3,380,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...

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Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
24. Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beginning of the year. During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder’s equity at the end of the year? Choices: P3,700,000 P3,420,000 P3,380,000 P1,340,000
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