Sengoku Company provided the following accounts at year-end: Authorized share capital 5,000,000 Unissued share capital 2,000,000 Subscribed share capital 1,000,000 Subscription receivable 400,000 Share premium 500,000 Retained earnings unappropriated 600,000 Retained earnings appropriated 300,000 Treasury shares, at cost 300,000 What amount should be reported as shareholders’ equity at year-end? Show your solution.
Sengoku Company provided the following accounts at year-end: Authorized share capital 5,000,000 Unissued share capital 2,000,000 Subscribed share capital 1,000,000 Subscription receivable 400,000 Share premium 500,000 Retained earnings unappropriated 600,000 Retained earnings appropriated 300,000 Treasury shares, at cost 300,000 What amount should be reported as shareholders’ equity at year-end? Show your solution.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sengoku Company provided the following accounts at year-end:
Authorized share capital 5,000,000
Unissued share capital 2,000,000
Subscribed share capital 1,000,000
Subscription receivable 400,000
Share premium 500,000
Retained earnings unappropriated 600,000
Retained earnings appropriated 300,000
Treasury shares, at cost 300,000
What amount should be reported as shareholders’ equity at year-end? Show your solution.
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