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What amount should be reported as total stockholders equity

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Reference no: EM132766898

Rapid Corporation adjusted trial balance at Dec 31, 2019 includes the following account balances.:

Ordinary shares, P3 par P600,000
Share premium 800,000
Treasury shares at cost 50,000
Accumulated other comprehensive income (Debit) 20,000
Retained earnings appropriated for earthquake losses 150,000
Retained earnings unappropriated 200,000

Problem 1: What amount should be reported as total stockholders equity in its Dec 31, 2019 balance sheet?

a. No correct answer
b. P1,780,000
c. P1,620,000
d. P1,720,000
e. P1,680,000

Reference no: EM132766898

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