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shareholders' equity section of the statement of financial position

shareholders' equity section of the statement of financial position

FINANCIAL ACCOUNTING
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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The Trial balance of T. Cayanan Corporation as of Dec. 31, 2021, contained the following selected balances: 15% Mortgage Payable, due May 1, 2022 Allowance for Uncollectible Accounts P5,000,000 50,000 8,000,000 Ordinary Shares, no-par, P20 stated value; 300,000 shares authorized, issued, and outstanding Retained Earnings-Unappropriated Appropriation for Pending Litigation 6% Preference Shares, P200 par, 3,000 shares authorized, 1,000,000 600,000 500,000 issued and outstanding Donated Capital Share Premium-Ordinary 400,000 10,000 Required: Present the shareholders' equity section of the statement of financial position as of Dec. 31, 2021.
Transcribed Image Text:The Trial balance of T. Cayanan Corporation as of Dec. 31, 2021, contained the following selected balances: 15% Mortgage Payable, due May 1, 2022 Allowance for Uncollectible Accounts P5,000,000 50,000 8,000,000 Ordinary Shares, no-par, P20 stated value; 300,000 shares authorized, issued, and outstanding Retained Earnings-Unappropriated Appropriation for Pending Litigation 6% Preference Shares, P200 par, 3,000 shares authorized, 1,000,000 600,000 500,000 issued and outstanding Donated Capital Share Premium-Ordinary 400,000 10,000 Required: Present the shareholders' equity section of the statement of financial position as of Dec. 31, 2021.
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