User Account

All Pages

What is the unappropriated retained earnings balance on dec

Assignment Help Accounting Basics
Reference no: EM132737993

During 2018, Kandong completed the following transactions:

Jan. 10 Issued an additional 50,000 ordinary shares for P17 per share.

Apr. 2 Issued 75,000 preference shares for P8 per share.

July 21 Authorized the acquisition of a custom-made machine to be delivered in January 2019. Kandong appropriated P147,500 of retained earnings for the purchase of the machine.

Oct. 25 Issued an additional 25,000 preference shares for P9 per share.

Dec. 31 Reported P607,500 of net income and declared a dividend of P317,500 to shareholders of record on January 31, 2019, to be paid on February 4, 2019.

Problem 1: What is the unappropriated retained earnings balance on December 31, 2018?

Reference no: EM132737993

Questions Cloud

Discuss the seven broad principles of internal control : Briefly discuss the seven broad principles of internal control. At what stage in the development of a business do internal control procedures become especially
What auditor most likely would select sample of transaction : Minimizing the failure to prepare sales invoices. The auditor most likely would select a sample of transactions from the population represented by the
Explain the context of corporate social responsibility : The following quote appeared in an article entitled 'Business and society in the coming decades', which was available on the website of McKinsey; Company.
How technology was used in communication : Use recent events to summarize the steps taken in an emergency health crisis including how technology was used in communication
What is the unappropriated retained earnings balance on dec : What is the unappropriated retained earnings balance on December 31, 2018? Jan. 10 Issued an additional 50,000 ordinary shares for P17 per share.
Describe the benefits of social media : Describe the benefits of social media Explain the risk/challenges of social media
Compute jose adjusted gross income : Compute Jose's adjusted gross income for 2019. § 1244 loss on stock acquired 3 years ago (70,000). Worthless security purchased in June of last year (4,000)
What is the ideal working condition for a sales : What is the ideal working condition for a sales in dairy products?
Determine neal agi and the casualty loss deduction : Interest expense and taxes on personal residence (11,700). Determine Neal's (1) AGI and (2) the casualty loss deduction from AGI for 2019.

Reviews

Write a Review

Accounting Basics Questions & Answers

  The stamford times has determined that the annual printing

the stamford times has determined that the annual printing of 900000 newspapers costs 14 cents per copy. if production

  Do think the buddhist is doing the right thing

Do you think the Buddhist is doing the right thing? Explain with reasons. A counselor working in a Buddhist temple in Rakiraki is very religious.

  What is the annual amount of futa and suta taxes due

What is the annual amount of FUTA and SUTA taxes due for each employee

  Do computerized systems use controlling accounts

Do computerized systems use controlling accounts to verify the accuracy of the subsidiary accounts?

  What methods might be used by auditors

What methods or techniques might be used by auditors to conduct a quality audit? Identify at least five and discuss one in detail with an example.

  What is the breakeven point in unit sales

Fixed costs equal $945,000. What is the breakeven point in unit sales and dollars for each type of filter at the current sales mix if the tax rate is 40%

  Prepare entries for each transaction for EMU Company

Prepare separate entries for each transaction for EMU Company. The merchandise purchased by METU on June 10 had cost EMU $6,400

  What investigative methods were used

Question - Enron (2001) Scandal - What was the outcome of the fraud and what investigative methods were used and how were the findings communicated

  How much will the couple be able to give their child

A couple is saving for their child's college tuition. How much will the couple be able to give their child for college after 12 years saving

  Explain the information provided by financial statement

Review the accounting data and explain positive or negative trends. How does this impact the business?Explain the information provided by financial statement

  Prepare a memo to Jim Davenport

In your position as the external auditor of Davenport Corporation, prepare a memo to Jim Davenport - The ethical issues you both face

  How much does she still owe

Maria takes out a 30- year mortgage for $247621 at an annual interest rate of 4.9%. How much does she still owe when there is 1 year left on the loan

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