What is the retained earning balance at december

Assignment Help Cost Accounting
Reference no: EM133061021

Question - At the beginning of 2019, ABC Corporation had retained earnings of P3,000,000. Throughout the year, the company had 20,000 shares of P 100 par value ordinary shares that are issued and outstanding. During the year 2019, ABC Corporation reported profit of P 5,000,000, purchases treasury shares for P 580,000, declared cash dividends of P 1,500,000, reissued all treasury shares at a gain of P 180,000, and declared and issued 5,000 ordinary shares as bonus issue when the market value was P 150 per share. What is the retained earning balance at December 31, 2019?

a. P5,750,000

b. P6,000,000

c. P6,180,000

d. P5,930,000

Reference no: EM133061021

Questions Cloud

Calculate the unit cost for silver and premium credit cards : There are 12,500 holders of Silver cards and 50,000 holders of Premium cards. Calculate the unit cost for Silver and Premium credit cards
Calculate the increase of production : 1. Calculate the increase of production that would avoid the annual loss which is caused by the project.
Break-even analysis : (Break-even analysis) The Marvel Mfg. Company is considering whether or not to construct a new robotic production facility. The cost of this new facility is ?$5
What is the present value of cash flows : You are valuing a firm that is expected to earn cash flows that grow at 10% for the first five years and at 5% in perpetuity thereafter. The forecasted cash flo
What is the retained earning balance at december : At the beginning of 2019, ABC Corporation had retained earnings of P3,000,000. What is the retained earning balance at December
Find out payback period method : Stellar Inc. has two projects as follows: A -2,400 800 1,150 1,000 1,850 B -2,950 700 1,450 1,000 3,850 If Stellar set 2.49 years as a cut-off period for screen
What is yield to? maturity : Abner? Corporation's bonds mature in 21 years and pay 15 percent interest annually. If you purchase the bonds for ?$925?, what is your yield to? maturity?
How much should the developer be willing to pay : In either case, NOI would be expected to increase at 2 percent per year after the first year. How much should the developer be willing to pay
Calculate the cost of capital : A firm has a capital structure which is composed of 50% debt and 50% equity. If the debt rate is 9.77% and the rate of return on equity is 12.65%

Reviews

Write a Review

Cost Accounting Questions & Answers

  Determine the capitalized cost of the coal mine

Determine the capitalized cost of the coal mine.

  How construction is anticipated to take two years

Construction is anticipated to take two years. Venus's pricing policy is consistent with that of industry leaders, namely, to set a room rate equal to 1%

  What is the depreciation expense for the given building

Using the straight-line method, what is the depreciation expense for this building for the fiscal year ending December 31, 2009?

  Prepare a statement showing the total cost

You are required to prepare a statement showing the total cost at each level of activity of 60%, 70% & 80%

  What is the amount of allocated manufacturing overhead costs

Manufacturing overhead cost is allocated at the rate of $12 per direct labor hour. What is the amount of allocated manufacturing overhead costs

  Determine how much owners equity increased for the month

Determine how much owners equity increased for the month. Increase in owner's equity and compute the amount of net income for the month

  Evaluate whether to pay dividends including tax consequences

Discuss and consider the several considerations that each kinds of corporation balance in evaluating whether to pay dividends, including the tax consequences of doing so.

  Base you answer on the following data from gold star

base you answer on the following data from gold star products inc. for the month of january.nbsp the company uses the

  Prepare in proper form a variance analysis report identify

Prepare, in proper form, a variance analysis report identifying both flexible budget and sales-volume variances. Label all component variances

  Make the necessary adjusting entries

Make the necessary adjusting entries - the equipment has an estimated useful life of nine years and a salvage value of $1,000. Depreciation is calculated using the straight-line method.

  Problem 1 design tests of controls analytical procedures

problem 1. design tests of controls analytical procedures and substantive tests of transactions for the inventory and

  What is applied factory overhead vs actual factory

Explain What is the difference between Applied Factory overhead and Actual Factory Overhead? When there are amount different between applied

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!

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