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[10 marks] I Question 1: Presented below are balances of equity accounts at 1/1/2019 at Petra Co.: Capital Additional paid in capital Retained earnings 800,000
[10 marks] I Question 1: Presented below are balances of equity accounts at 1/1/2019 at Petra Co.: Capital Additional paid in capital Retained earnings 800,000 200,000 130,000 During 2019 the following additional information is provided: 1- Petra issued 100,000 ordinary shares at $2, with sales price (market price) $1.5 2- Petra declared and paid dividends at $60,000 3- Net income for 2019 was $200,000 4. treasury shares were purchased at a cost of $40,000 5 accumulated other comprehensive income was $10,000 Prepare statement of changes in equity for 2019. Then answer the questions at answer sheet page No. 1 Question 2: Question Answer 1- what is the amount of selling expenses that will be reported at income statement for 2019? 2- what is the net income for 2019? 3- by what amount other comprehensive income will be reported at comprehensive income for 2019? 4-What is the amount of property, plant, and equipment to be reported at 31/12/2019 statement of financial position? [10 marks] I Question 1: Presented below are balances of equity accounts at 1/1/2019 at Petra Co.: Capital Additional paid in capital Retained earnings 800,000 200,000 130,000 During 2019 the following additional information is provided: 1- Petra issued 100,000 ordinary shares at $2, with sales price (market price) $1.5 2- Petra declared and paid dividends at $60,000 3- Net income for 2019 was $200,000 4. treasury shares were purchased at a cost of $40,000 5 accumulated other comprehensive income was $10,000 Prepare statement of changes in equity for 2019. Then answer the questions at answer sheet page No. 1 Question 2: Question Answer 1- what is the amount of selling expenses that will be reported at income statement for 2019? 2- what is the net income for 2019? 3- by what amount other comprehensive income will be reported at comprehensive income for 2019? 4-What is the amount of property, plant, and equipment to be reported at 31/12/2019 statement of financial position
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