On January 1, 2020, LeiLanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount and a fair value of P1,500,000 on July 1. The net income for 2020 was P3,000,000 How many shares are issued and outstanding? Select the correct response

On January 1, 2020, Leilanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount anda fair value of P1,500,000 on July 1 The net income for 2020 was P3,000,000. How much is the appropriated retained earnings? Select the correct response O500,000 O 400.000 O 250,000 O 450,000 < Previous Continue

On January 1, 2020, LeiLanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount and a fair value of P1,500,000 on July 1. The net income for 2020 was P3,000,000. How much is the total shareholders' equity? Select the correct response: O 11,000,000 10,500,000 9,500,000 O 10,000,000 < Previous 3ms

Ared Company showed the following shareholders’ equity on January 1, 2020: Share capital 1,000,000 Share premium 2,000,000 Retained earnings 4,000,000 The entity had 400,000 authorized shares of P5 par value, of which 200,000 shares were issued and outstanding. On July 1, 2020, the entity declared a property dividend of inventory payable on March 1, 2021. The inventory had a P1,200,000 carrying amount and a fair value less cost to distribute of P1,000,000 on July 1, 2020. The fair value less cost to distribute is P1,500,000 on December 31, 2020, and P900,000 on March 1, 2021. The net income for 2020 was P3,000,000.   - What is the carrying amount of the inventory on December 31, 2020? - What is the amount to be recognized in profit or loss for the distribution of the non- cash dividend?

On January 1, 2017, an entity showed the following shareholders' equity: Share capital, 300,000 shares outstanding, P5 par 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 On July 1,2017, the entity declared a property dividend of inventory payable on March 1, 2018. The inventoy had P1,200,000 carrying amount and a fair value less cost to distribute of P1,500,000 on July 1, 2017, P1,800,000 on December 31, 2017 and P2,000,000 on March 1, 2018. The net income for 2017 was P3,000,000.   What mount should be reported as retained earnings on December 31, 2017? On December 31, 2017, the inventory should be reported at what amount? What amount should be recognized as gain on distribution of property dividend in 2018?

The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10 par, 900,000 shares issued P9,000,000; Ordinary Share Premium P2,700,000; Retained Earnings P1,300,000. On January 2, 2019, the corporation purchased and retired 100,000 shares of its share capital for P 1,800,000.   a. In preparing the journal entry for this transaction, is there an indicated gain or indicated loss?  b. how much is the indicated gain (loss)? If your answer is an indicated loss, put a parenthesis.  c. how much will be credited to Cash?  d. how much will be debited to Ordinary Share Premium??

An entity reported the following equity on December 31, 2023: Ordinary share capital, P25 par value, 400,000 shares issued : 10,000,000 Share premium- ordinary : 4,250,000 Retained earnings : 15,000,000 The following events occurred during 2023: February 1 : 12,000 ordinary shares were sold for P40 per share. March 16 : Declared and paid cash dividend of P1 per share to the ordinary shareholders. March 20 :  20,000, 10% P50 par value cumulative preference shares were sold for P60 per share. The preference shares have a liquidation price of P55 per share. March 31 : 30% ordinary share dividend was issued. Fair value per share is currently P45. April 15 : A 2-for-1 split was carried out on the ordinary shares. July 1 : 30,000 preference shares were sold for P70 per share. October 1 : 50,000 ordinary shares were sold for P30 per share. December 31 : Net income for the year was P2,250,000. What amount of ordinary share capital should be reported on December 31, 2023?   14,015,000…

Based on the picture, how much is the net increase in the shareholder's equity of David Guetta Company as a result of business combination?

At the beginning of the current year, Bella Company was organized and authorized to issue100,000 shares with P50 par value. During the current year, the entity had the following transactions relating to shareholders' equity:• Issued 10,000 shares at P70 per share• Issued 20,000 shares at P80 per share• Reported net income of P1,000,000• Paid dividends of P200,000• Purchased 3,000 treasury shares at P100 per share What is the total shareholders' equity at year-end?A. P2,800,000B. P3,300,000C. P2,000,000D. P3,000,000

Rawhides Corporation showed the following account balances on December 31, 2022 balance sheet: Common shares, unlimited authorized shares, 660,000 shares issued and outstanding $3,980,000 Retained earnings $2,130,000 Per their incorporation documents, they are authorized to issue 100,000, $5 preferred shares. During 2023, the following selected transactions occurred: March 1 May 1 June 1 July 1 July 31 November 1 November 20 December 31 Repurchased and retired 100,500 common shares at $7.20 per share; this is the first retirement recorded by Rawhides Declared 2:1 shares split to shareholders of record on May 12, distributable May 30 The board of directors issued 15,000 preferred shares for $27 per share The board declared total cash dividends of $82,000 to shareholders of record on July 22 payable on July 31 Paid the cash dividend Declared a 10% share dividend to shareholders of record on November 10, distributable November 20. The market prices of the shares on November 1, November 10…