User Account

All Pages

What is the retained earnings balance at december

Assignment Help Accounting Basics
Reference no: EM132829268

At the beginning of 2020, Glasgow Company had retained earnings of P3,000,000. Throughout the year, the company had 20,000 shares of P100 par value ordinary shares that are issued and outstanding.

  • During the year 2020, Glasgow Company reported profit of P5,000,000, purchased treasury shares for P580,000 declared cash dividend of P1,500,000. Reissued all treasury shares at a gain of P180,000 and declared and issued 5,000 ordinary shares as bonus issue when the market value was P150 per share.

Problem 1: What is the retained earnings balance at December 31, 2020?

Reference no: EM132829268

Questions Cloud

Did retained earnings increase or decrease : On December 15, Loki had declared the annual cash dividend on its $0.35 preferred shares, Did Retained Earnings increase or decrease
Define how to mitigate against the risks and threats : The Smallville client leadership has accepted your risk and threat assessment and has asked you to brief them on how to mitigate against the risks and threats.
How do the citizens of singapore access health care : How do the citizens of Singapore access health care? Include Resource
Which pillars are areas of weakness in communications : Which pillars are areas of weakness in your communications? What have been the consequences of your areas of weakness in your communications?
What is the retained earnings balance at december : What is the retained earnings balance at December 31, 2020? At the beginning of 2020, Glasgow Company had retained earnings of P3,000,000.
What level of production will have to be reached : What level of production will have to be reached to get the same amount of profits, if: The selling price is reduced by 10%
How the assessment tools or diagnostic tests : A description of how the assessment tools or diagnostic tests you were assigned is used in healthcare. What information does it gather?
Mechanical structure of an organization : Consider the following statement: We should not pay too much attention to what an organization's structure looks like. It is far more important
What amount will be debited to the account share premium : What amount will be debited to the account Share Premium - Original Issuance as a result of the reissuance of the treasury shares?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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