An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What total shareholders’ equity should be reported at year-end?
An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What total shareholders’ equity should be reported at year-end?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An entity provided the following information at year-end:
Preference share capital, at par
2,000,000
Ordinary share capital, at par
3,000,000
Share premium
1,000,000
Sales
10,000,000
Total expenses
7,800,000
Treasury shares at cost – ordinary
500,000
Dividends
700,000
Retained earnings – beginning
1,000,000
What total shareholders’ equity should be reported at year-end?
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