12. The following data are extracted from the shareholders' equity section of thestatement of financial position of Dela Cruz Corporation:12/31/201812/31/2019Ordinary Shares, P2 par valueP1,000,000P1,020,000Share Premium500,0001,000,000580,000Retained Earnings1,046,000During 2019, the corporation declared and paid cash dividends of P150,000 and alsodeclared and issued a share dividend. There were no other changes in shares issuedand outstanding during 2019. Profit for 2019 wasP 46,000.b. P196,000.а.P216,000.d. P296,000.С.a 10% ordinary share dividend.

Closing ordinary shares at par value P1020000 Add Share premium closing value P580000 Less…

Answered: Profit for 2019

Business

Accounting

Profit for 2019

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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Question

12. The following data are extracted from the shareholders' equity section of the
statement of financial position of Dela Cruz Corporation:
12/31/2018
12/31/2019
Ordinary Shares, P2 par value
P1,000,000
P1,020,000
Share Premium
500,000
1,000,000
580,000
Retained Earnings
1,046,000
During 2019, the corporation declared and paid cash dividends of P150,000 and also
declared and issued a share dividend. There were no other changes in shares issued
and outstanding during 2019. Profit for 2019 was
P 46,000.
b. P196,000.
а.
P216,000.
d. P296,000.
С.
a 10% ordinary share dividend.

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