The following data were extracted from the stockholders’ equity of ABC Company: 12/31/2017 12/31/2018 Ordinary share (100 par) 5,000,000 5,100,000 Share premium 2,500,000 2,900,000 Accumulated profits 5,000,000 ? During 2018, the company declared and paid cash dividends of P750,000 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2018. The net income for 2018 was P1,500,000. The retained earnings on December 31, 2018 should be
The following data were extracted from the stockholders’ equity of ABC Company: 12/31/2017 12/31/2018 Ordinary share (100 par) 5,000,000 5,100,000 Share premium 2,500,000 2,900,000 Accumulated profits 5,000,000 ? During 2018, the company declared and paid cash dividends of P750,000 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2018. The net income for 2018 was P1,500,000. The retained earnings on December 31, 2018 should be
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data were extracted from the
|
12/31/2017 |
12/31/2018 |
|
|
Ordinary share (100 par) |
5,000,000 |
5,100,000 |
|
Share premium |
2,500,000 |
2,900,000 |
|
|
5,000,000 |
? |
During 2018, the company declared and paid cash dividends of P750,000 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2018. The net income for 2018 was P1,500,000. The retained earnings on December 31, 2018 should be
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