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Question - At the current year end, Spurs Corporation declared 4,000 ordinary shares of P 100 par value in connection with a share capital dividend. The market value per share on the date of declaration was P 150. The shareholder's equity accounts immediately before issuance of the share capital dividend shares were as follows:
Ordinary share capital, P100 par, 50,000 shares authorized, 20,000 shares outstanding - P2,000,000
Ordinary Share premium - P3,000,000
Retained earnings - P1,500,000
What amount should be reported as retained earnings immediately after the share capital dividend?
a. P1,500,000
b. P1,100,000
c. P900,000
d. P2,100,000
Sonnet paid dividends of P60,000 on October 1, 2020. In Darwin's December 31, 2019,what should be the carrying amount of this investment?
Ryan Lawrence's regular hourly rate is $17. Compute Lawrence's gross pay for the past week. If required, round your answer to the nearest cent
Superior Developers sells lots for residential development. Calculate the total amount by which Superior should change its deferred tax liability in 2021
Marquis Company uses a weighted-average perpetual inventory system. What is the amount of the cost of goods sold for this sale
Question - AB Company issued a 10 year, 5%, $2,000,000 bond paying interest twice a year at a market rate of 4.2%. What was the issue price
The following items are treated differently for accounting purposes than they are for tax purposes. Estimated future warranty costs
Each unit requires 5 pounds of material which costs $3.00 per pound. Calculate the pounds of material to be purchased
In 2013, Zoe Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed.
If the enacted tax rate is 34% for all periods, and income taxes payable for the period is $230,000, determine the amount of total income tax expense
Determine the annual unit sales volume at which Martinez company would be in different between the two manufacturing methods
Accounts Receivable $50,000; Allowance for Doubtful Debts $2,000, Bad Debt Expense $3,000. What is the expected recoverable amount of the accounts receivable
What is the amount of the adjustment if the amount of supplies on hand at the end of the year is $385?
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