Reference no: EM133184758
Question - Zoe Company reported the following shareholders' equity at the current year-end:
Share capital, par P25, authorized 150,000 shares,
55,000 shares issued of which 5,000 shares are in treasury 1,375,000
Retained earnings 2,000,000
Treasury shares, at cost 150,000
A 100% share dividend was declared and all of the treasury shares were issued as share dividend and the balance from the unissued shares. The share has market value of P40. What amount of retained earnings should be capitalized?
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What is the dividend payable that should be recognized
: Each car has a fair value of P600,000 and carrying amount of P450,000. What is the dividend payable that should be recognized
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What is amount of retained earnings available for dividends
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How much should x report as his gross income
: Sale of a land in Marikina not used in business (with a FMV of P2,900,000), P3,300,000. How much should X report as his gross income
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How much amount is to be included as part of gross income
: Charlotte was injured in a vehicular accident in 2022. He incurred and paid medical expenses of P120,000. How much amount is to included as part of gross income
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What amount of retained earnings should be capitalized
: Share capital, par P25, authorized 150,000 shares, Treasury shares, at cost 150,000. What amount of retained earnings should be capitalized
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How much is the basic income tax due of x for taxable year
: Also, X claimed in his income tax return a personal exemption of 50,000, as head of the family. How much is the basic income tax due of X for Taxable Year
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What is the book value per preference share
: The preference share has a liquidating value of P55 and a call price of P58. What is the Book Value per preference share
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Determine the opportunity cost if he chooses to do lawnwork
: In addition, if he chooses to work at the pool, he will incur $20 in gas costs per week. Determine the opportunity cost if he chooses to do lawnwork
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What amount should be reported as dividend payable
: Cash dividends declared in 2021 totaled P440,000. What amount should be reported as dividend payable to preference and ordinary shares
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