At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000 shares at ₱20 per share. Comfortable Company has retained earnings of ₱245,600 at the beginning of the fiscal year. The company reported net income of ₱89,540. On September 30, cash dividend of ₱60,000 were distributed to stockholders. How much would be the stockholders' equity at the end of fiscal year October 31, 2019?
At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000 shares at ₱20 per share. Comfortable Company has retained earnings of ₱245,600 at the beginning of the fiscal year. The company reported net income of ₱89,540. On September 30, cash dividend of ₱60,000 were distributed to stockholders. How much would be the stockholders' equity at the end of fiscal year October 31, 2019?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common
stock. The stocks were initially issued at ₱18 per share. On June 16, the company issued additional 20,000
shares at ₱20 per share. Comfortable Company has
fiscal year. The company reported net income of ₱89,540. On September 30, cash dividend of ₱60,000
were distributed to stockholders. How much would be the stockholders' equity at the end of fiscal year
October 31, 2019?
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