The following data are taken from the ledger of EVA Co. Retained Earnings Date Particulars Debit Credit 01/01/2017 06/30/2017 Dividends paid 12/31/2017 Net income for 2017 02/07/2018 Premium on share capital 04/30/2018 Loss on sale of land 09/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 07/01/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 Balance P80,600 P25,000 42,500 10,000 5,000 20,000 5,800 40,000 1,600 33,700 Unrealized loss on FV OCI securities 3,400 What is the correct balance of Retained earnings on December 31, 2019?
The following data are taken from the ledger of EVA Co. Retained Earnings Date Particulars Debit Credit 01/01/2017 06/30/2017 Dividends paid 12/31/2017 Net income for 2017 02/07/2018 Premium on share capital 04/30/2018 Loss on sale of land 09/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 07/01/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 Balance P80,600 P25,000 42,500 10,000 5,000 20,000 5,800 40,000 1,600 33,700 Unrealized loss on FV OCI securities 3,400 What is the correct balance of Retained earnings on December 31, 2019?
Chapter1: Financial Statements And Business Decisions
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What is the total balance of Retained Earnings on December 31, 2019?
Transcribed Image Text:The following data are taken from the ledger of EVA Co.
Retained Earnings
Date
Particulars
Debit
Credit
01/01/2017 Balance
06/30/2017 Dividends paid
12/31/2017 Net income for 2017
02/07/2018 Premium on share capital
04/30/2018 Loss on sale of land
09/30/2018 Dividends paid
12/31/2018 Net income for 2018
12/31/2018 Revaluation surplus
07/01/2019 Gain on sale of treasury stock
12/31/2019 Net income 2019
P80,600
P25,000
42,500
10,000
5,000
20,000
5,800
40,000
1,600
33,700
Unrealized loss on FV OCI securities
3,400
What is the correct balance of Retained earnings on December 31, 2019?
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