Avengers Company provided the following current assets and shareholders' equity at year-end: Cash 600,000 Financial assets at fair value through profit or loss, including cost of P300,000 of Avengers Company shares 1,000,000 Accounts receivable 3,500,000 1,500,000 6,600,000 Inventory Total current assets Share capital 5,000,000 2,000,000 Share premium Retained earnings Total shareholders' equity 500,000 7,500,000 3. What amount should be reported as total shareholders' equity?

Avengers Company provided the following current assets and shareholders' equity at year-end: Cash 600,000 Financial assets at fair value through profit or loss, including cost of P300,000 of Avengers Company shares 1,000,000 Accounts receivable 3,500,000 1,500,000 6,600,000 Inventory Total current assets Share capital 5,000,000 2,000,000 Share premium Retained earnings Total shareholders' equity 500,000 7,500,000 3. What amount should be reported as total shareholders' equity?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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