7. On Dec. 31, 2018, the shareholders' equity section of A. Pacis, Inc. was as follows: Ordinary Shares, par value P100, authorized 30,000 shares, issued and outstanding 9,000 shares Share Premium P 900,000 1,160,000 Retained Earnings 1,460,000 P3,520,000 Total Shareholders' Equity On March 31, 2019, A. Pacis declared a 10% share dividend. Accordingly, 900 shares were issued when the fair market value was P160 per share. For the three months ended March 31, 2019, A. Pacis sustained a loss of P320,000. The balance of A. Pacis's retained earnings as of March 31, 2019 should be
7. On Dec. 31, 2018, the shareholders' equity section of A. Pacis, Inc. was as follows: Ordinary Shares, par value P100, authorized 30,000 shares, issued and outstanding 9,000 shares Share Premium P 900,000 1,160,000 Retained Earnings 1,460,000 P3,520,000 Total Shareholders' Equity On March 31, 2019, A. Pacis declared a 10% share dividend. Accordingly, 900 shares were issued when the fair market value was P160 per share. For the three months ended March 31, 2019, A. Pacis sustained a loss of P320,000. The balance of A. Pacis's retained earnings as of March 31, 2019 should be
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 1MC: Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter...
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