Reference no: EM133161936
Question - Multination Corporation provided the following balances on December 31, 2020:
Accounts payable 500,000
Accrued taxes 100,000
Ordinary share capital 5,000,000
Dividends - ordinary share 1,000,000
Dividends - preference share 500,000
Mortgage payable (P500,000 due in six months) 4,000,000
Note payable, due January 1, 2022 2,000,000
Share premium 500,000
Preference share capital 3,000,000
Premium on note payable 200,000
Income summary - credit balance 4,000,000
Retained earnings - 1/1/2020 2,500,000
Unamortized issue cost on note payable 50,000
Unearned rent income 150,000
Required - What is the total stockholders' equity on December 31, 2020?
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