User Account

All Pages

What amount should the reported as retained earnings

Assignment Help Financial Accounting
Reference no: EM132508648

Gem company reported the following shares holder's equity on January 1, 2016 Share capital, P20 par, authorized 200,00 shares issued and outstanding 100,000 2,000,000

Share premium                3,000,000
Retained earnings          7,500,000

Question 1: On march 1, 2016 the board of directors declared a 15% share dividend, and accordingly 15,000 additional shares were issued. 0n march 1, 2016 the fair value of the share was P60. The entity sustained a net loss of 1,000,000 for the current year. What amount should the reported as retained earnings on December 31, 2016 .

  1. 5,600,000
  2. 6,200,000

Reference no: EM132508648

Questions Cloud

Calculate the annual depreciation amount : Sarasota Manufacturing purchased a machine on January 1, 2020 for use in its factory. Calculate the annual depreciation amount for 2020 and 2021
Explain the general views that are culturally based : Explain the general views that are culturally based. Describe incidents of cultural misunderstanding between criminal justice professionals and civilians.
Allocate the impairment loss to the net assets : Allocate the impairment loss to the net assets of the wireless division using the cost recovery model under ASPE
Determining the hydroxide ion concentration : What would the hydroxide ion concentration be if the hydrogen ion concentration was 1 x 10-5 M?
What amount should the reported as retained earnings : The entity sustained a net loss of 1,000,000 for the current year. What amount should the reported as retained earnings on December 31, 2016.
Intellectual Capital At Skandia AFS : Explain what hidden values are systematically treated as IC and IAs at Skandia? How is IC measured and managed at Skandia AFS?
Helium too effuse through a porous barrier : It took 3.5 minutes for 0.8 L of helium too effuse through a porous barrier. How long will it take for 0.8 L of Cl2 gas to effuse under identical conditions?
Provide two examples of states tax : List some of the risks on company's future cash flows, and provide options on how to avoid and reduce such risks. Provide two examples of states tax
Medical case study dmaic-using minitabs : You work for a government agency and your management asked you to take a look at data from prescription drugs administered at hospitals in your geography.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd