Question
ABC Company issued share capital of 20,000 shares with P5 pat at P10 per share. On January 1, 2020, the retained earnings totaled P300,000. In
ABC Company issued share capital of 20,000 shares with P5 pat at P10 per share. On January 1, 2020, the retained earnings totaled P300,000.
In March 2020, the entity reacquired 5,000 shares at P20 per share. In June 2020, the entity sold 1,000 of these shares to corporate officers for P25 per share.
Net income for 2020 was P60,000.
On December 31, 2020, what amount should be reported as Unappropriated retained earnings?
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Public Auditing Technique For Securing Privacy In Cloud Storage Cloud Server Security
Authors: Sri Nagesh, Vankamamidi Srinivasa Naresh
1st Edition
6202523689, 978-6202523684
