changes in equity Elaine Corp.'s equity as of Dec. 31, 2020 is P534,000. Elaine shares have a par value of P10 per share. The following transactions occurred in 2021: Feb. 15: Dividends of P10,000 are paid; Mar. 14:10,000 shares are sold for P14 per share; June 6: 2,000 shares are repurchased for P16 per share; Oct. 8: 2,000 shares previously repurchased are resold for P18 per share. Profit for 2021 is P103,000, On Dec. 31, 2021, Julia should report equity of a. P781,000 b. P771,000 C. P767,000 d. P664,000

changes in equity Elaine Corp.'s equity as of Dec. 31, 2020 is P534,000. Elaine shares have a par value of P10 per share. The following transactions occurred in 2021: Feb. 15: Dividends of P10,000 are paid; Mar. 14:10,000 shares are sold for P14 per share; June 6: 2,000 shares are repurchased for P16 per share; Oct. 8: 2,000 shares previously repurchased are resold for P18 per share. Profit for 2021 is P103,000, On Dec. 31, 2021, Julia should report equity of a. P781,000 b. P771,000 C. P767,000 d. P664,000

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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