Red Hat Company began operations in January 2018 and reported the following results of operations for each of its first three years of operations: P240,000 loss; 2020 – P3,900,000 profit. 2018 - P600,000 loss; 2019 - At December 31, 2020, the company's capital accounts were as follows: 9% Cumulative Preference Share Capital, P100 par; 100,000 shares authorized; 60,000 shares issued and outstanding · Ordinary Share Capital, P10 par; 1,000,000 shares authorized; 800,000 shares issued and outstanding P6,000,000 8,000,000 Red Hat Company has never paid a cash or bonus issue and there has been no change in the capital accounts since it began operations.
Red Hat Company began operations in January 2018 and reported the following results of operations for each of its first three years of operations: P240,000 loss; 2020 – P3,900,000 profit. 2018 - P600,000 loss; 2019 - At December 31, 2020, the company's capital accounts were as follows: 9% Cumulative Preference Share Capital, P100 par; 100,000 shares authorized; 60,000 shares issued and outstanding · Ordinary Share Capital, P10 par; 1,000,000 shares authorized; 800,000 shares issued and outstanding P6,000,000 8,000,000 Red Hat Company has never paid a cash or bonus issue and there has been no change in the capital accounts since it began operations.
Chapter1: Financial Statements And Business Decisions
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