#22 At the beginning of the current year, Flor company had retained earnings of P4,800,000. During the year, the entity reported net income of P2,400,000, sold treasury shares at a “gain” of P864,000, declared a cash dividend of P1,440,000 and declared and issued a small share dividend of 72,000 shares with P10 par value when the fair value of the share was P20. What is the amount of retained earnings available for dividends at the end of the current year? 4,320,000 pls provide correct solution for the given answer

#22 At the beginning of the current year, Flor company had retained earnings of P4,800,000. During the year, the entity reported net income of P2,400,000, sold treasury shares at a “gain” of P864,000, declared a cash dividend of P1,440,000 and declared and issued a small share dividend of 72,000 shares with P10 par value when the fair value of the share was P20. What is the amount of retained earnings available for dividends at the end of the current year? 4,320,000 pls provide correct solution for the given answer

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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The equity section of Windsor SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 94,600 shares, outstanding 84,600 shares) Share capital-ordinary (R$1 par, authorized and issued 10,000,000 shares) Share premium-ordinary Retained earnings Net income Earnings Per Share: Income from continuing operations Discontinued operations, net of tax R$125,960,000 Net income 31,020,000 R$ R$4,230,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$11,280,000 (before tax) as a result of discontinued operations. Preference dividends of R$253,800 were declared and paid in 2022. Dividends of R$ 940,000 were declared and paid to ordinary shareholders in 2022. 10,000,000 Compute earnings per share data as it should appear on the income statement of Windsor SA. (Round answers to 2 decimal places, e.g. 1.48.) 19,270,000 156,980,000 R$190,480,000
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At the beginning of the current year , Flash Company had retained earnings of P4,000,000 . During the year , the entity reported net income of P2,000,000 , sold treasury shares at a " gain " of P720,000 , declared a cash dividend of P1,200,000 , and declared and issued a small share dividend of 60,000 shares with P10 par value when the fair value of the share was P20 . What is the amount of retained earnings available for dividends at the end of the current year ? a. 3,600,000 b. 4,200,000 c. 4,320,000 d. 4,920,000
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Please answer in good accounting form. Thankyou 1. What amount of retained earnings should be appropriated as a result of the given transactions?
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Ute 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 3,500,000