Senden Company was organized on January 1, 2020 at which date it issued 300,000 ordinary shares of P6 par value at P13 per share. The following re the additional equity transaction occurred during the year: Profit for the year amounts to P975,000 2) Deciared and paid cash dividends amounts to P225,000 3) On January 10, 2020, the Company purchased 9,000 treasury shares at P12 per share. 4) On December 31, 2020, the Company sold 4,5s00 treasury shares at P8 per share and retired the remaining treasury shares. The company uses the cost method of accounting for treasury shares. What is the total shareholder's equity on December 31, 20207 A M,596,000 B. P4,578,000 C. N,524,000 D. P4,632,000

Senden Company was organized on January 1, 2020 at which date it issued 300,000 ordinary shares of P6 par value at P13 per share. The following re the additional equity transaction occurred during the year: Profit for the year amounts to P975,000 2) Deciared and paid cash dividends amounts to P225,000 3) On January 10, 2020, the Company purchased 9,000 treasury shares at P12 per share. 4) On December 31, 2020, the Company sold 4,5s00 treasury shares at P8 per share and retired the remaining treasury shares. The company uses the cost method of accounting for treasury shares. What is the total shareholder's equity on December 31, 20207 A M,596,000 B. P4,578,000 C. N,524,000 D. P4,632,000

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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