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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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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
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