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TOTAL LEGAL CAPITAL

TOTAL LEGAL CAPITAL

FINANCIAL ACCOUNTING
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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WHAT IS THE TOTAL LEGAL CAPITAL?

Share capital Share premium Retained earnings Cumulative unrealized gain/(loss) on FVOCI investments 7,500,000 2,200,000 3,000,000 2,400,000 The following information summarizes the company's operations for the year 2021: Revenues 2,000,000 850,000 100,000 40,000 2,000 4,000 35,000 20,000 Cost of goods sold Employee benefit expense Depreciation and amortization Other expenses Finance costs Post-tax monetary impact of a correction of prior period error Dividends declared and paid Proceeds from the issuance of shares (par value of issued shares is P8 million) Unrealized gain on FVOCI investments during the year (before tax) 10,800,000 80,000 The company's income tax rate is 30%.
Transcribed Image Text:Share capital Share premium Retained earnings Cumulative unrealized gain/(loss) on FVOCI investments 7,500,000 2,200,000 3,000,000 2,400,000 The following information summarizes the company's operations for the year 2021: Revenues 2,000,000 850,000 100,000 40,000 2,000 4,000 35,000 20,000 Cost of goods sold Employee benefit expense Depreciation and amortization Other expenses Finance costs Post-tax monetary impact of a correction of prior period error Dividends declared and paid Proceeds from the issuance of shares (par value of issued shares is P8 million) Unrealized gain on FVOCI investments during the year (before tax) 10,800,000 80,000 The company's income tax rate is 30%.
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