Please answer asap! UPVOTE will be given! No long explanation needed. Excel can be used. At the beginning of the current year, GMA Corp. was authorized to issue 100,000 shares with ₱50 par value. During the year, the company had the following chronological transactions related to shareholders’ equity: Issued 10,000 shares at ₱70 per share Issued 20,000 shares at ₱80 per share Reported net income of ₱1,215,000 Declared and paid cash dividends of ₱381,000 Declared a 10% share dividend. Fair market value on this date is ₱105 per share. Distributed the share dividend. Fair market value on this date is ₱90 per share. Purchased 3,000 treasury shares at ₱100 per share How much is the total shareholders’ equity at year-end?
Please answer asap! UPVOTE will be given! No long explanation needed. Excel can be used. At the beginning of the current year, GMA Corp. was authorized to issue 100,000 shares with ₱50 par value. During the year, the company had the following chronological transactions related to shareholders’ equity: Issued 10,000 shares at ₱70 per share Issued 20,000 shares at ₱80 per share Reported net income of ₱1,215,000 Declared and paid cash dividends of ₱381,000 Declared a 10% share dividend. Fair market value on this date is ₱105 per share. Distributed the share dividend. Fair market value on this date is ₱90 per share. Purchased 3,000 treasury shares at ₱100 per share How much is the total shareholders’ equity at year-end?
Chapter1: Financial Statements And Business Decisions
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Please answer asap! UPVOTE will be given! No long explanation needed. Excel can be used.
At the beginning of the current year, GMA Corp. was authorized to issue 100,000 shares with ₱50 par value. During the year, the company had the following chronological transactions related to shareholders’ equity:
- Issued 10,000 shares at ₱70 per share
- Issued 20,000 shares at ₱80 per share
- Reported net income of ₱1,215,000
- Declared and paid cash dividends of ₱381,000
- Declared a 10% share dividend. Fair market value on this date is ₱105 per share.
- Distributed the share dividend. Fair market value on this date is ₱90 per share.
- Purchased 3,000 treasury shares at ₱100 per share
How much is the total shareholders’ equity at year-end?
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