Homework Help is Here – Start Your Trial Now!
Business
Accounting
3-9. The following were the balances of shareholders' equity accounts of Riviera Company as of January 1, 2021: Share Capital Share Premium Retained Earnings Cumulative Unrealized Gains (Losses) on Financial Assets at FV through Other Comprehensive Income Revenue Raw materials and consumables used The following information summarizes the entity's operations for the years 2022 and 2021: Employee benefit expense Depreciation and amortization, as previously reported Other expenses Finance costs Correction of profit for prior years-2019 depreciation expense was understated by P500,000 P75,000,000 22,000,000 30,000,000 Dividends declared and paid Proceeds from issue of share capital (par value is P8,000,000) Unrealized gains (losses) on investments measured at fair value through other comprehensive income before tax The company's income tax rate is 25%. 2,400,000 In million pesos 2022 2021 P2,000 850 100 40 424 20 10.8 P1,800 745 95 435 40 25 0.8 (1.2)

3-9. The following were the balances of shareholders' equity accounts of Riviera Company as of January 1, 2021: Share Capital Share Premium Retained Earnings Cumulative Unrealized Gains (Losses) on Financial Assets at FV through Other Comprehensive Income Revenue Raw materials and consumables used The following information summarizes the entity's operations for the years 2022 and 2021: Employee benefit expense Depreciation and amortization, as previously reported Other expenses Finance costs Correction of profit for prior years-2019 depreciation expense was understated by P500,000 P75,000,000 22,000,000 30,000,000 Dividends declared and paid Proceeds from issue of share capital (par value is P8,000,000) Unrealized gains (losses) on investments measured at fair value through other comprehensive income before tax The company's income tax rate is 25%. 2,400,000 In million pesos 2022 2021 P2,000 850 100 40 424 20 10.8 P1,800 745 95 435 40 25 0.8 (1.2)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

a. Prepare Statement of Changes in Equity for 2022 and 2021. 

3-9. The following were the balances of shareholders' equity accounts of Riviera Company as of January 1, 2021: Share Capital Share Premium Retained Earnings Cumulative Unrealized Gains (Losses) on Financial Assets at FV through Other Comprehensive Income Revenue Raw materials and consumables used Employee benefit expense Depreciation and amortization, as previously reported The following information summarizes the entity's operations for the years 2022 and 2021: Other expenses Finance costs Correction of profit for prior years-2019 depreciation expense was understated by P500,000 P75,000,000 22,000,000 30,000,000 Dividends declared and paid Proceeds from issue of share capital (par value is P8,000,000) Unrealized gains (losses) on investments measured at fair value through other comprehensive income before tax The company's income tax rate is 25%. 2,400,000 In million pesos 2022 2021 P2,000 850 100 40 2 4 20 10.8 0.8 P1,800 745 95 40 3 5 25 (1.2)
Transcribed Image Text:3-9. The following were the balances of shareholders' equity accounts of Riviera Company as of January 1, 2021: Share Capital Share Premium Retained Earnings Cumulative Unrealized Gains (Losses) on Financial Assets at FV through Other Comprehensive Income Revenue Raw materials and consumables used Employee benefit expense Depreciation and amortization, as previously reported The following information summarizes the entity's operations for the years 2022 and 2021: Other expenses Finance costs Correction of profit for prior years-2019 depreciation expense was understated by P500,000 P75,000,000 22,000,000 30,000,000 Dividends declared and paid Proceeds from issue of share capital (par value is P8,000,000) Unrealized gains (losses) on investments measured at fair value through other comprehensive income before tax The company's income tax rate is 25%. 2,400,000 In million pesos 2022 2021 P2,000 850 100 40 2 4 20 10.8 0.8 P1,800 745 95 40 3 5 25 (1.2)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS