What is the balance of retained earnings - unappropriated after the above transactions?2. What are the total shares outstanding of FORTY CORP as of December 31, 2018?3. Use the following information in answering the next item(s):During 2018, FORTY CORP. has the following transactions affecting its shareholders'equity accounts:1/71/302/83/1Declared a cash dividend of 0.50 per sharePaid the 0.50 cash dividend per shareSplit common stock for 4 for 1Declared a 10% stock dividend from its unissued shares. The market valueof the shares on that date is P15 per share.Declared a 0.20 cash dividend per sharePaid the 0.20 cash dividend per shareNet income is P60,0003/204/1512/31On January 1, 2018, the shareholders' equity of FORTY is as follows:Ordinary share capital (10 par value)Ordinary share premiumTreasury shares (@P12 Cost)Retained earnings150,00050,00048,00085,999

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What is the balance of retained earnings - unappropriated after the above transactions? 2. What are the total shares outstanding of FORTY CORP as of December 31, 2018? 3.

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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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

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What is the balance of retained earnings - unappropriated after the above transactions?

2. What are the total shares outstanding of FORTY CORP as of December 31, 2018?

Use the following information in answering the next item(s):
During 2018, FORTY CORP. has the following transactions affecting its shareholders'
equity accounts:
1/7
1/30
2/8
3/1
Declared a cash dividend of 0.50 per share
Paid the 0.50 cash dividend per share
Split common stock for 4 for 1
Declared a 10% stock dividend from its unissued shares. The market value
of the shares on that date is P15 per share.
Declared a 0.20 cash dividend per share
Paid the 0.20 cash dividend per share
Net income is P60,000
3/20
4/15
12/31
On January 1, 2018, the shareholders' equity of FORTY is as follows:
Ordinary share capital (10 par value)
Ordinary share premium
Treasury shares (@P12 Cost)
Retained earnings
150,000
50,000
48,000
85,999

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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