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What amount should way report as total shareholders equity

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Reference no: EM132869580

Way Company's adjusted trial balance at December 31, 2018 includes the following:

Ordinary share capital, P5 par P360,000

Share premium 480,000

Treasury shares, at cost 30,000

Cumulative net unrealized loss on equity securities

at fair value through other comprehensive income 12,000

Retained appropriated for contingencies 90,000

Unappropriated retained earnings 120,000

Problem 1: What amount should Way report as total shareholders' equity in its December 31, 2018 statement of financial position?

a. P1,008,000

b. P1,032,000

c. P1,068,000

d. P1,092,000

Reference no: EM132869580

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