FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Jason’s Corp balance sheet as of December 31, 2021, reveals the following information. Preferred stock, $100 par $ 600,000 Paid-in capital in excess of par—preferred 50,000 Common stock, $1 par 300,000 Paid-in capital in excess of par—common 520,000 Retained earnings 320,000 What was the total paid-in capital as of December 31, 2021? Question 6Answer a. $320,000 b. $1,470,000 c. $900,000 d. $1,790,000arrow_forwardWhat are the adjusting entry in this problem?arrow_forwardUte Company reported the following capital structure during the current year: 5% cumulative preference share capital, par value P100, 25,000 shares issued and outstanding Ordinary Share capital, par value P35, 100,000 shares issued and outstanding The entity reported net income of P5,000,000 for the current year. The entity paid P125,000 in preference dividends in the current year. 7. What amount should be reported as the basic earnings per share? a. 48.75 b. 50.00 c. 51.25 2,500,000 3,500,000arrow_forward
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