ABC Corp organized on January 1, 2019, at which date it issued 200,000 shares of P10 par ordinary share at P15 per share. During the period January 1, 2019, through December 31, 2019, ABC reported net income of P900,000 and paid cash dividends of P460,000. On January 10, 2020,ABC purchased 12,000 shares of its ordinary share at P12 per share. On December 31, 2020, ABC sold 8,000 treasury shares at P8 per share. ABC uses the cost method of accounting for treasury shares. What is ABC's total stockholders' equity on December 31, 2020? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000

ABC Corp organized on January 1, 2019, at which date it issued 200,000 shares of P10 par ordinary share at P15 per share. During the period January 1, 2019, through December 31, 2019, ABC reported net income of P900,000 and paid cash dividends of P460,000. On January 10, 2020,ABC purchased 12,000 shares of its ordinary share at P12 per share. On December 31, 2020, ABC sold 8,000 treasury shares at P8 per share. ABC uses the cost method of accounting for treasury shares. What is ABC's total stockholders' equity on December 31, 2020? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000

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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