The ABC Corp, was organized on September 1, 2022 with authorized capital of 1,000,000 shares of P50 par value. Ordinary Share Capital. Six Hundred Fifty thousand (650,000) shares were issued for cash at P70 per share. During the year, the company posted a profit of P12,500,000 and distributed dividends of P8,500,000. Dividend per share paid on ordinary share capital as of December 31, 2022, amounted to
The ABC Corp, was organized on September 1, 2022 with authorized capital of 1,000,000 shares of P50 par value. Ordinary Share Capital. Six Hundred Fifty thousand (650,000) shares were issued for cash at P70 per share. During the year, the company posted a profit of P12,500,000 and distributed dividends of P8,500,000. Dividend per share paid on ordinary share capital as of December 31, 2022, amounted to
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The ABC Corp, was organized on September 1, 2022 with authorized capital of 1,000,000 shares of P50 par value. Ordinary Share Capital. Six Hundred Fifty thousand (650,000) shares were issued for cash at P70 per share. During the year, the company posted a profit of P12,500,000 and distributed dividends of P8,500,000. Dividend per share paid on ordinary share capital as of December 31, 2022, amounted to
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education