14. How much is the correct balance of the Accumulated retained earnings unappropriated account? The following information has been taken from the Accumulated profits ledger accounts of GBC Inc. a. Total net income since incorporation b. Total cash dividends paid c. Carrying value of the company's equipment declared as property divided d. Proceeds from sale of donated stocks e. Total value of stock dividends distributed f. Gain on treasury share transaction g. Unamortized premium on bonds payable h. Appropriated for plant expansion i. Loss on treasury share reissue j. Share premium in excess of par from issued shares k. Share issuance expense 1. Appropriated for remaining treasury shares at cost P50/share P3,200,000 150,000 600,000 150,500 250,000 375,000 413,200 700,000 515,000 215,000 45,000 1,000,000 Additional notes: • The equipment declared as dividends had a recoverable value of P450,000 as of the date of declaration. The stock dividends distributed was based on a 10% share dividend declared on 100,000, P25 par value shares issued shares. The market value of shares on the date of declaration was at P42 per share. The only transactions affecting the treasury shares were those described in item f and item i.
14. How much is the correct balance of the Accumulated retained earnings unappropriated account? The following information has been taken from the Accumulated profits ledger accounts of GBC Inc. a. Total net income since incorporation b. Total cash dividends paid c. Carrying value of the company's equipment declared as property divided d. Proceeds from sale of donated stocks e. Total value of stock dividends distributed f. Gain on treasury share transaction g. Unamortized premium on bonds payable h. Appropriated for plant expansion i. Loss on treasury share reissue j. Share premium in excess of par from issued shares k. Share issuance expense 1. Appropriated for remaining treasury shares at cost P50/share P3,200,000 150,000 600,000 150,500 250,000 375,000 413,200 700,000 515,000 215,000 45,000 1,000,000 Additional notes: • The equipment declared as dividends had a recoverable value of P450,000 as of the date of declaration. The stock dividends distributed was based on a 10% share dividend declared on 100,000, P25 par value shares issued shares. The market value of shares on the date of declaration was at P42 per share. The only transactions affecting the treasury shares were those described in item f and item i.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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14. How much is the correct balance of the
Transcribed Image Text:14. How much is the correct balance of the Accumulated retained
earnings unappropriated account?
The following information has been taken from the Accumulated profits ledger accounts of
GBC Inc.
P3,200,000
a. Total net income since incorporation
b. Total cash dividends paid
c. Carrying value of the company's equipment declared as
property divided
d. Proceeds from sale of donated stocks
150,000
600,000
150,500
250,000
375,000
413,200
e. Total value of stock dividends distributed
f. Gain on treasury share transaction
g. Unamortized premium on bonds payable
h. Appropriated for plant expansion
i. Loss on treasury share reissue
j. Share premium in excess of par from issued shares
k. Share issuance expense
700,000
515,000
215,000
45,000
1. Appropriated for remaining treasury shares at cost P50/share
1,000,000
Additional notes:
The equipment declared as dividends had a recoverable value of P450,000 as of the
date of declaration.
The stock dividends distributed was based on a 10% share dividend declared on
100,000, P25 par value shares issued shares. The market value of shares on the date
of declaration was at P42 per share.
The only transactions affecting the treasury shares were those described in item f and
item i.
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