Dolores Company has the following assets and liabilities at December 31, 2020 and December 31, 2021. Assets liabilities December 31, 2020------------- P9,000,000 P3,200,000 December 31, 2021------------- 12,000,000 4,500,000 During 2021, Dolores issued 10,000 shares of its P100 par ordinary share at P130 per share and declared dividends of P500,000. There were no other changes affecting the equity accounts. How much is the profit for year 2021? 900,000
Dolores Company has the following assets and liabilities at December 31, 2020 and December 31, 2021. Assets liabilities December 31, 2020------------- P9,000,000 P3,200,000 December 31, 2021------------- 12,000,000 4,500,000 During 2021, Dolores issued 10,000 shares of its P100 par ordinary share at P130 per share and declared dividends of P500,000. There were no other changes affecting the equity accounts. How much is the profit for year 2021? 900,000
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
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1MC
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Dolores Company has the following assets and liabilities at December 31, 2020 and December 31, 2021.
Assets liabilities
December 31, 2020------------- P9,000,000 P3,200,000
December 31, 2021------------- 12,000,000 4,500,000
During 2021, Dolores issued 10,000 shares of its P100 par ordinary share at P130 per share and declared dividends of P500,000. There were no other changes affecting the equity accounts. How much is the profit for year 2021? 900,000
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