Solution-What amount be reported as unappropriated retained

What amount be reported as unappropriated retained earnings

Assignment Help Accounting Basics

Reference no: EM133123864

Question - At the beginning of current year, Cash Company reported the following shareholders' equity:

Share capital, P5 par 600,000 shares authorized, 200.000 shares issued and outstanding 1,000,000

Share premium 6,000,000

Retained earnings 2,800,000

Total shareholders' equity 9,800,000

During the current year, the following chronological transactions affected shareholders' equity:

- Reacquired 10,000 shares at P30 per share to be held as treasury.

- Declared and issued a 30% share dividend.

- Declared and paid cash dividend of P10 per share.

- Net income for the current year amounted to P3,000,000.

Required - What amount should be reported as unappropriated retained earnings at year-end?

Reference no: EM133123864

Questions Cloud

Price charged and quantity sold in canada : A pharmaceutical company sells a drug in the United States and in Canada. The marginal cost of producing the drug is the same in both markets is $2.00

What is the aggregate demand curve in market : Consider the market for widgets. There are 10 consumers, each of whom has demand curve Qi = 36 - 0.1P. Widgets are produced by a monopolist with cost function C

Analyze how you would implement lean tools : Develop a process for redesigning Company X assembly line and production warehouse layout to minimize waste using process mapping tools

Describe the conceptual analysis process : Suppose a retailer has two markets, 1 and 2. Demand 1 follows a normal distribution with mean 98 and standard deviation 10. Demand 2 follows a continuous unifor

What amount be reported as unappropriated retained earnings : Reacquired 10,000 shares at P30 per share to be held as treasury. What amount should be reported as unappropriated retained earnings at year-end

What is the quickest and most short-term action : What is the quickest and most short-term action that the Bank of Canada could take to try to solve this problem?

Discuss the economic-integration project : 1) Discuss the economic-integration project known as the European Union in its different stages. Briefly characterize why we have come to refer to the EU as "mu

Showing recognition is important leadership behavior : Showing recognition is an important leadership behavior. Develop a plan to show them recognition. It should be personalized and meaningful.

Explain the retrospective reimbursement : Compared to retrospective reimbursement, prospective reimbursement would be expected to weaken the ability of hospital managers to exercise managerial control o

User Account

All Pages

What amount be reported as unappropriated retained earnings

Reference no: EM133123864

Reference no: EM133123864

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT