User Account

All Pages

What is the total shareholders equity on December

Assignment Help Accounting Basics
Reference no: EM132529953

Question - Nerve Company was organized on January 1, 2007. On that date it issued 200,000 shares at P15 per share (400,000 shares were authorized). During the period January 1, 2007, through December 31, 2008, Nerve reported net income of P750,000 and paid cash dividends of P380,000. On January 5, 2008, Nerve purchased 12,000 treasury shares at P12 per share. On December 31, 2008, 8,000 treasury shares were sold at P8 per share and retired the remaining 4,000 shares.(V7-27)

Required - What is the total shareholders' equity on December 31, 2008?

a. 3,290,000

b. 3,306,000

c. 3,338,000

d. 3,370,000

Reference no: EM132529953

Questions Cloud

Explain the core beliefs of the just-in-time philosophy : Explain the core beliefs of the just-in-time (JIT) philosophy. Explain the key elements of JIT manufacturing. Describe the benefits of JIT
What are some potential strategies and measures : What are some potential strategies and measures that Masai could put in place to reduce the risk of such occurrences happening again
What dollar amounts should be reported : What dollar amounts should be reported for the final inventory and cost of goods sold under the (1) net method; (2) gross method
Difference between the internet and the world wide web : What were the first four locations hooked up to the Internet (ARPANET)? What is the difference between the Internet and the World Wide Web?
What is the total shareholders equity on December : Nerve Company was organized on January 1, 2007. On that date it issued 200,000 shares at P15 per share. What is the total shareholders equity on December
What are the net benefits of the dam : Using the meteorological records as a basis for prediction, what are the net benefits of the dam if the real discount rate is 5 percent
Filesystem analysis and data recovery : Filesystem Analysis and Data Recovery. which is the Linux-based file carving tool that is used to recover files based on their signature.
What was the retained earnings balance of Chandler : Chandler and Co Pty Ltd was set up with share capital of $500000. What was the retained earnings balance of Chandler
What amount should be credited to share premium : What amount should be credited to share premium as a result of the issuance of the preference share and its subsequent conversion into ordinary share

Reviews

Write a Review

Accounting Basics Questions & Answers

  Borrell company purchased 4 delivery trucks on january 2

borrell company purchased 4 delivery trucks on january 2 2013 for 22000 each. borrell expected 2 of the trucks to last

  What should be the minimum selling price per computer

Brand X Computers makes and sells computers. What should be the minimum selling price per computer in negotiating a price for the special order

  Determine the machine asset value at the end of year

Health Guard Labs recently purchased a new pill dispensing machine. Determine the machine asset value at the end of year one

  Prepare the journal entry to record bad debt expense

Prepare the journal entry to record bad debt expense for Mckinney at the end of year one

  In 1970 mr and mrs self purchased their first principal

in 1970 mr. and mrs. self purchased their first principal residence for 80000. in 1995 they sold the house for 300000

  Prepare a trial balance

Question - Transactions, Financial Statements-Service, Sept. 4 Pays rent for office space, $680 for the month. Company Prepare a trial balance

  What is the total manufacturing cost per unit

Ace Widget Company is a process manufacturer. The company budgeted 11,500 direct labor hours but had actual. What is the total manufacturing cost per unit?

  Technoid inc sells computer systems technoid leases

technoid inc. sells computer systems. technoid leases computers to lone star company on january 1 2013. the

  What is the number of units that must be sold to breakeven

Selling price per unit=$25, Contribution margin=$10, Fixed costs=$45,000, What is the number of units that must be sold to breakeven

  List any strengths and weaknesses in the internal

List any strengths and weaknesses in the internal control procedures of Jounta enterprises Draw a document flowchart of the expenditure processes.

  How much interest expense will be paid on august

The interest rate is 7.0% per year. How much interest expense will be paid on August 31, 2018

  What is an accounting system

What is an accounting system and what is the primary objective of such t system?

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