The following information is taken from JYP Company's shareholders' equity section: December 31, 2011 December 31, 2012 Share capital (Php100 par value) USD5,000,000 USD5,100,000 Share premium 2,500,000 2,900,000 Retained earnings 5,000,000 ? JYP Company declared and paid a cash dividend of USD750,000 in 2012, and also declared a share dividend. There were no other changes in the number of shares issued and outstanding in 2012. In 2012, the net income was USD1,500,000. On December 31, 2012, what should be reported as retained earnings?

The following information is taken from JYP Company's shareholders' equity section: December 31, 2011 December 31, 2012 Share capital (Php100 par value) USD5,000,000 USD5,100,000 Share premium 2,500,000 2,900,000 Retained earnings 5,000,000 ? JYP Company declared and paid a cash dividend of USD750,000 in 2012, and also declared a share dividend. There were no other changes in the number of shares issued and outstanding in 2012. In 2012, the net income was USD1,500,000. On December 31, 2012, what should be reported as retained earnings?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

YG Company has 5,000 shares of 6%, USD100 par value, noncumulative preferred stock and 20,000 shares of USD1 par value common stock outstanding at December 31, 2013. There were no dividends declared in 2011, the first year of operations. The BOD of the company declares and pays a USD50,000 dividend in 2013. What is the amount of dividends per share received by the ordinary shareholders in 2013?
The shareholders’ equity section of Memphis Company as of December 31,2018 before closing its books and recording the 2018 dividends is as follows: Ordinary share, 100,000 shares issued and outstanding P 3,000,000 Ordinary share premium 4,000,000 Retained earnings 8,000,000 Memphis’ board of directors declared a 20% share capital dividend on December 31, 2018 when the market value of each share was P 70. The corporation’s 2018 operations resulted to a loss P 1,200,000. What amount should Memphis report as retained earnings as of December 31, 2018? ____________________
dont uplode any images in answer
What amount should be reported as retained earnings on December 31, 2017? On January 1, 2017, an entity reported the following shareholders' equityShare capital, 100,000 shares authorized, 50,000 shares outstamding, P100 par 5,000,000Share premium 4,000,000Retained earnings 5,000,000The BOD declared a 10% stock dividend on July 1, 2017, when the market value of the share was P150. the stock dividend was issued on October 1, 2017 when the market value of the share was P180. The entity sustained a net loss of P1,500,000 for 2017. What amount should be reported as retained earnings on December 31, 2017?
(a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2026. (b) The weighted-average number of shares outstanding eTextbook and Media X Your answer is incorrect. Earnings per share 1751425 Assume that Ivanhoe Corp. earned net income of $3,500,000 during 2026. In addition, it had 101,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.) 34.66 Attempts: 1 of 3 used
Some of the account balances of Oriole Limited at December 31, 2022, are as follows: $8 Preferred shares (2,500 shares authorized, 2,500 shares issued and outstanding) Common shares (unlimited authorized, 44,000 shares issued and outstanding) Contributed surplus Retained earnings Accumulated other comprehensive income $480,000 560,000 109,000 (a1) 796,000 23,885 The price of the company's common shares has been increasing steadily on the market; it was $23 on January 1, 2023, and advanced to $26 by July 1 and to $29 at the end of 2023. The preferred shares are not openly traded but were appraised at $122 per share during 2023. Oriole follows IFRS and had net income of $148,000 during 2023. For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April 1. Each common shareholder was to receive one share of Pharoah Corp. for every 11 shares outstanding. Oriole had 8,500 shares of Pharoah (2% of the…
On January 1, 2010, the accounts of Mac Corporation showed the following: Common stock, par SI, authorized 100.000 shares Capital in excess of par value ($2 per share) Retained carnings 60,000 140,000 During 2010, the following transactions occurred affecting stockholders' equity (in the order given) A B. C. D. Issued a 100° stock dividend when the market price was at $5 per share. Purchased treasury stock, 1.000 shares at a total cost of $8.000. Declared and paid cash dividends. SI5.000. Net income for 2010. S25.000
Vikram
The shareholders' equity of Ningning Company shows the following balances on 31 December 2014: Ordinary share, P100 par - P3,000,000 Treasury share, 5,000 ordinary shares at cost - P400,000 Share Premium - P660,000 Retained Earnings - P1,580,000 What is the book value per share of ordinary shares? (Round answer to the nearest two decimal places)
Please show the solution in good accounting form. 5. How much is the TOTAL treasury share capital? 6. How much is the Retained earnings, END? 7. How much is the Retained earnings, end - UNAPPROPRIATED?
Please do not give solution in image format thanku
Please don't provide answer in image format thank you.