Loving Company provided the following information on December 31 , 2020 : Share premium - 9,000,000 Accounts payable - 1,000,000 Sales - 10, 000, 000 Treasury shares - 250,000 Preference share - 1, 750, 000 Ordinary share - 400,000 Total costs and expenses ses - 7, 800, 000 Retained earnings , January 1 - 1, 000, 000. The total shareholders ' equity on December 31, 2020 is a. 14,100,000 b. 13,400,000 c. 11,900,000 d. 11,200,000
Loving Company provided the following information on December 31 , 2020 : Share premium - 9,000,000 Accounts payable - 1,000,000 Sales - 10, 000, 000 Treasury shares - 250,000 Preference share - 1, 750, 000 Ordinary share - 400,000 Total costs and expenses ses - 7, 800, 000 Retained earnings , January 1 - 1, 000, 000. The total shareholders ' equity on December 31, 2020 is a. 14,100,000 b. 13,400,000 c. 11,900,000 d. 11,200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Loving Company provided the following information on December 31 , 2020 :
Share premium - 9,000,000
Accounts payable - 1,000,000
Sales - 10, 000, 000
Treasury shares - 250,000
Ordinary share - 400,000
Total costs and expenses ses - 7, 800, 000
Retained earnings , January 1 - 1, 000, 000.
The total shareholders ' equity on December 31, 2020 is
a. 14,100,000
b. 13,400,000
c. 11,900,000
d. 11,200,000
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