The corporation was established in 2019. The Corporation issued 100,000, 20 par value shares ofstocks at an issue price of 25. On May 1, 2020, the corporation issued 20,000 new shares at an issueprice of 30 per share. The corporation reported a net income of 356,785 and 425,000 in 2019 and 2020, respectively. Dividends of ₱2 per share were declared and distributed to shareholders on March 31,2020. There were no dividends distributed on the first year of operation of the corporation. Make a Statement of Changes in Equity for the year 2020.

The corporation was established in 2019. The Corporation issued 100,000, 20 par value shares ofstocks at an issue price of 25. On May 1, 2020, the corporation issued 20,000 new shares at an issueprice of 30 per share. The corporation reported a net income of 356,785 and 425,000 in 2019 and 2020, respectively. Dividends of ₱2 per share were declared and distributed to shareholders on March 31,2020. There were no dividends distributed on the first year of operation of the corporation. Make a Statement of Changes in Equity for the year 2020.

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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