Phoebe Company presented the following entries in its "Shareholders' Equity" account for the year 2021, its initial year of operations: SHAREHOLDERS' EQUITY Jan. 01 1,500,000 Issuance of 150,000 shares of capital share, P10 par; authorized 500,000 shares in exchange for real estate property with a market value of P2 million 1,500,000 Jan. 15 Sale of 200,000 shares of capital share at P12 per share 2,400,000 Mar. 01 Purchase 20,000 shares of its own share at P15 per share 300,000 Jun. 10 Proceeds from sale of 10,000 treasury shares 190,000 Dec. 31 250,000 Declared cash dividends payable quarterly beginning April 1, 1998 Dec. 31 Net profit for the year 890,000 Wind The balance of the "Shareholders' Equity" account of the company's balance sheet as of... 24:52 cember 31, 2021 is: Find the: 1. The balance of the "Shareholders' Equity" account of the company's balance sheet as of December 31, 2021 2. The book value per share of the company's share as of December 31, 2021.

Phoebe Company presented the following entries in its "Shareholders' Equity" account for the year 2021, its initial year of operations: SHAREHOLDERS' EQUITY Jan. 01 1,500,000 Issuance of 150,000 shares of capital share, P10 par; authorized 500,000 shares in exchange for real estate property with a market value of P2 million 1,500,000 Jan. 15 Sale of 200,000 shares of capital share at P12 per share 2,400,000 Mar. 01 Purchase 20,000 shares of its own share at P15 per share 300,000 Jun. 10 Proceeds from sale of 10,000 treasury shares 190,000 Dec. 31 250,000 Declared cash dividends payable quarterly beginning April 1, 1998 Dec. 31 Net profit for the year 890,000 Wind The balance of the "Shareholders' Equity" account of the company's balance sheet as of... 24:52 cember 31, 2021 is: Find the: 1. The balance of the "Shareholders' Equity" account of the company's balance sheet as of December 31, 2021 2. The book value per share of the company's share as of December 31, 2021.

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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