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What amount should be reported as total shareholders' equity ad?

What amount should be reported as total shareholders' equity ad?

FINANCIAL ACCOUNTING
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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Problem 5-6 (AICPA Adapted) United Company reported the following unadjusted current assets and shareholders' equity at year-end: Cash Financial assets at fair value, including cost of P300,000 of United Company shares 600,000 Trade accounts receivable Inventory Share capital Share premium Retained earnings 1,000,000 3,500,000 - 1,500,000 5,000,000 2,000,000 500,000 What amount should be reported as total shareholders' equity at year-end? a. 7,200,000 b. 7,500,000 c. 7,800,000 d. 5,200,000
Transcribed Image Text:Problem 5-6 (AICPA Adapted) United Company reported the following unadjusted current assets and shareholders' equity at year-end: Cash Financial assets at fair value, including cost of P300,000 of United Company shares 600,000 Trade accounts receivable Inventory Share capital Share premium Retained earnings 1,000,000 3,500,000 - 1,500,000 5,000,000 2,000,000 500,000 What amount should be reported as total shareholders' equity at year-end? a. 7,200,000 b. 7,500,000 c. 7,800,000 d. 5,200,000
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