Way Company's adjusted trial balance at December 31, 2021 includes the following: Ordinary Share Capital, P5 par P360,000 Share Premium - Ordinary 480,000 Treasury Shares, at cost 30,000 Share Premium - Preference 12,000 Retained Earnings 90,000 Preference Share Capital, P10 par 120,000 What amount should Way report as total shareholders' equity in its December 31, 2021 statement of financial position?
Way Company's adjusted trial balance at December 31, 2021 includes the following: Ordinary Share Capital, P5 par P360,000 Share Premium - Ordinary 480,000 Treasury Shares, at cost 30,000 Share Premium - Preference 12,000 Retained Earnings 90,000 Preference Share Capital, P10 par 120,000 What amount should Way report as total shareholders' equity in its December 31, 2021 statement of financial position?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Way Company's adjusted
|
Ordinary Share Capital, P5 par |
P360,000 |
|
Share Premium - Ordinary |
480,000 |
|
Treasury Shares, at cost |
30,000 |
|
Share Premium - Preference |
12,000 |
|
|
90,000 |
|
|
120,000 |
What amount should Way report as total shareholders' equity in its December 31, 2021 statement of financial position?
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