4. Case 4: Corporation At the start of the fiscal year, STU Company has 100,000 shares of its ₱10 par value common stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000 shares at ₱20 per shares. STU has retained earnings of ₱245,600 at the beginning of the fiscal year. The company reported net income of ₱89,540. On September 30, cash dividends of ₱60,000 were distributed to stockholders. Required: Prepare the Statement of Changes in Equity of STU Company for the year 2016.
4. Case 4: Corporation At the start of the fiscal year, STU Company has 100,000 shares of its ₱10 par value common stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000 shares at ₱20 per shares. STU has retained earnings of ₱245,600 at the beginning of the fiscal year. The company reported net income of ₱89,540. On September 30, cash dividends of ₱60,000 were distributed to stockholders. Required: Prepare the Statement of Changes in Equity of STU Company for the year 2016.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. Case 4: Corporation
At the start of the fiscal year, STU Company has 100,000 shares of its ₱10 par value
common stock. The stocks were initially issued at ₱18 per share. On June 16, the company
issued additional 20,000 shares at ₱20 per shares.
STU has
reported net income of ₱89,540. On September 30, cash dividends of ₱60,000 were distributed
to stockholders.
Required: Prepare the Statement of Changes in Equity of STU Company for the year
2016.
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