The equity balances of Memory Company as of the end of the reporting period are:Ordinary share capital, P100 par, 360,000 sharesP 36,000,000Subscribed ordinary share capital, 60,000 shares6,000,000Subscription receivable2,000,000Treasury shares, 20,000 shares, at cost3,000,000Retained earnings10,000,000Compute for the total shareholders’ equity on the balance sheet as of December 31, 2019.

The treasury shares are the common shares purchased by the company, which means the company…

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Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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The equity balances of Memory Company as of the end of the reporting period are:

Ordinary share capital, P100 par, 360,000 shares	P 36,000,000
Subscribed ordinary share capital, 60,000 shares	6,000,000
Subscription receivable	2,000,000
Treasury shares, 20,000 shares, at cost	3,000,000
Retained earnings	10,000,000

Compute for the total shareholders’ equity on the balance sheet as of December 31, 2019.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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