After considering the given transactions, how much is the total shareholder's equity of the December 31,2019 ? At the end of 2018, ABC Company has 18,000 shares, P 20 par ordinary shares that were allissued at an average price of P 24 per share. The retained earnings balance on this date is P550,000.During 2019, the company entered into the following transactions:Issued 13,000 ordinary shares at P 25 each.Exchanged 12,000 ordinary shares for an equipment. On this date, theordinary share is selling at P 27. There is no established fair market valuefor the equipment acquired.Reacquired 5,000 of its own ordinary shares at P 26.Accepted subscriptions for 10,000 ordinary shares at P 28. The contractcalled for a 20% down payment.Sold 4,000 treasury shares at P 29 each.Collected the balance due on July 16 subscriptions and issued thecorresponding certificates.January 1March 13May 8July 16August 28December 1Profit for the year 2019 is P 640,000. No dividends were declared during the year.

Stockholders Equity can be calculated in two ways 1. By using the values from balance sheet 2.…

Answered: After considering the given…

Business

Accounting

After considering the given transactions, how much is the total shareholder's equity of the December 31,2019 ?

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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