1. Record the appropriation of Retained Earnings. 2. Prepare the shareholders’ equity section of Camia Corporation
1. An abstract of the shareholders’ equity of the Camia Co. on December 31,200A appears as
follows:
outstanding Php5,250,000
Ordinary Shares, Php25 par value, 300,000 shares issued and
Outstanding 7,500,000
Premium on Preference Share 450,000
Premium on Ordinary Share 600,000
Treasury Share – Ordinary 60,000
The Board of Directors decided to establish a reserve of Php230,000 for contingencies and
Php380,000 for plant expansion.
Required:
1. Record the appropriation of Retained Earnings.
2. Prepare the shareholders’ equity section of Camia Corporation
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