At the beginning of current year, CFAS Company was organized and authorized to issue 100,000 shares with P50 par value. During the current year, the entity 1 had the following: transactions relating to shareholders equity: Issued 10,000 http://shares.at P70 per share. Issued 20,000 shares at P80 per share. Reported net income of P 1,000,000. Paid dividends of P200,000. Purchased 3,000 treasury shares at P100 per share. 1.What amount should be reported as share capital at year – end? A. 1,200,000 B. 3,300,000 C. 1,500,000 D. 1,800,000 2.What amount should be reported as share premium at year – end? A. 800,000 B. 200,000 C. 0 D. 600,000 3. What is the total shareholders’ equity at year-end? A.2,800,000 B.3,300,000 C.3,000,000 D. 2,000,000 4. What is the contributed capital at year – end? A. 2,000,000 B. 2,300,000 C. 3,000,000 D.1,500,000
At the beginning of current year, CFAS Company was organized and authorized to issue 100,000 shares with P50 par value.
During the current year, the entity 1 had the following: transactions relating to shareholders equity:
Issued 10,000 http://shares.at P70 per share.
Issued 20,000 shares at P80 per share.
Reported net income of P 1,000,000.
Paid dividends of P200,000.
Purchased 3,000 treasury shares at P100 per share.
1.What amount should be reported as share capital at year – end?
A. 1,200,000
B. 3,300,000
C. 1,500,000
D. 1,800,000
2.What amount should be reported as share premium at year – end?
A. 800,000
B. 200,000
C. 0
D. 600,000
3. What is the total shareholders’ equity at year-end?
A.2,800,000
B.3,300,000
C.3,000,000
D. 2,000,000
4. What is the contributed capital at year – end?
A. 2,000,000
B. 2,300,000
C. 3,000,000
D.1,500,000
I NEED ANSWER ASAP. THANK YOUUU!
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