At the beginning of the current year, Bella Company was organized and authorized to issue 100,000 shares with P50 par value. During the current year, the entity had the following transactions relating to shareholders' equity: • Issued 10,000 shares at P70 per share • Issued 20,000 shares at P80 per share • Reported net income of P1,000,000 • Paid dividends of P200,000 • Purchased 3,000 treasury shares at P100 per share What is the total shareholders' equity at year-end? A. P2,800,000 B. P3,300,000 C. P2,000,000 D. P3,000,000
At the beginning of the current year, Bella Company was organized and authorized to issue 100,000 shares with P50 par value. During the current year, the entity had the following transactions relating to shareholders' equity: • Issued 10,000 shares at P70 per share • Issued 20,000 shares at P80 per share • Reported net income of P1,000,000 • Paid dividends of P200,000 • Purchased 3,000 treasury shares at P100 per share What is the total shareholders' equity at year-end? A. P2,800,000 B. P3,300,000 C. P2,000,000 D. P3,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
At the beginning of the current year, Bella Company was organized and authorized to issue
100,000 shares with P50 par value.
During the current year, the entity had the following transactions relating to shareholders' equity:
• Issued 10,000 shares at P70 per share
• Issued 20,000 shares at P80 per share
• Reported net income of P1,000,000
• Paid dividends of P200,000
• Purchased 3,000 treasury shares at P100 per share
What is the total shareholders' equity at year-end?
A. P2,800,000
B. P3,300,000
C. P2,000,000
D. P3,000,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education