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How much was the total paid in capital as of December

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Reference no: EM132872130

Question - The shareholder's equity section of the statement of financial position of Bravo Corporation showed the following balances at December 31, 2020:

Ordiary Share Capital, 10,000 shares issued 300,000

Share Premium 100,000

Retained earnings 240,000

Treasury shares, 1,000 shares 35,000

During 2021, the following transactions were completed in chronological order.

-A 50% bonus issue was declared when each share sells for 42

-All of the treasury shares were sold for 42,000

-Profit for 2021 was 280,000

Required -

1. How many shares were outstanding at December 31, 2021?

2. How much was the total paid in capital as of December 31, 2021?

3. What was the total retained earnings balance at December 31, 2021?

Reference no: EM132872130

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