At the beginning of 2020, tradewell Mktg. Corp. had retained earnings of P5,000,000. Throughout the year, the company had 20,000 shares of P100 par value ordinary shares that are issued and outstanding. During the year 2020 Tradewell Mktg. corp reportd profit of P2,500,000, purchased a treasury chares of P750,000 declared a cash dividends of 2,000,000, reissued all treasury shares at a gain of PI80,000 and dedared and issued 5000 shares as bonus issue when the market value was 150 per share. 1. what is the retained earning balance at December 3l, 2020. 2. Assuming that there are 50,000 issued and outstanding ( instead of 20,000 shares). What is the retained earnings balance at december 3l, 2020?
At the beginning of 2020, tradewell Mktg. Corp. had retained earnings of P5,000,000. Throughout the year, the company had 20,000 shares of P100 par value ordinary shares that are issued and outstanding. During the year 2020 Tradewell Mktg. corp reportd profit of P2,500,000, purchased a treasury chares of P750,000 declared a cash dividends of 2,000,000, reissued all treasury shares at a gain of PI80,000 and dedared and issued 5000 shares as bonus issue when the market value was 150 per share. 1. what is the retained earning balance at December 3l, 2020. 2. Assuming that there are 50,000 issued and outstanding ( instead of 20,000 shares). What is the retained earnings balance at december 3l, 2020?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
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Problem 84PSA: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...
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At the beginning of 2020, tradewell Mktg. Corp. had retained earnings of P5,000,000. Throughout the year, the company had 20,000 shares of P100 par value ordinary shares that are issued and outstanding. During the year 2020 Tradewell Mktg. corp reportd profit of P2,500,000, purchased a treasury chares of P750,000 declared a cash dividends of 2,000,000, reissued all treasury shares at a gain of PI80,000 and dedared and issued 5000 shares as bonus issue when the market value was 150 per share.
1. what is the retained earning balance at December 3l, 2020.
2. Assuming that there are 50,000 issued and outstanding ( instead of 20,000 shares). What is the retained earnings balance at december 3l, 2020?
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