Comprehensive Problem You Are Engaged In The First Time Audit Of The Financial Statements Of Trina Claire Co, Which Began Operations In 2015 The Following Ratios And Other Data Pertaining To The Financial Statements Of Trina Claire Co For The Year Ended December 31, 2016 Were Provided To You By The Company's Accountant From The Statement Of PROBLEM 30 15 Comprehensive Problem You are engaged in the first time audit of the financial statements of Trina Claire Co, w please show me solutions, thank youu Show transcribed image text Expert Answer Since you have asked multiple questions, we will solve the firstView the full answer answer image blur PROBLEM 30 15 Comprehensive Problem You are engaged in the first time audit of the financial statements of Trina Claire Co, which began operations in 2015 The following ratios and other data pertaining to the financial statements of Trina Claire Co for the year ended December 31, 2016 were provided to you by the company's accountant From the Statement of Financial Position Ordinary share capital, P10 par P1,000,000 Share premium 500,000 Retained earnings, 12 31 2016 1,800,000 Computed ratios Basic earnings per share P5 Book value per share 33 Additional information 1) The 2015 ending inventory was overstated by 50,000 2) Accrued expenses at the end of 2016 amounting to 30,000 were not recorded 3) Sale of merchandise on account in 2015 for P45,000 was erroneously recorded in 2016 4) One year insurance premium of P48,000 effective August 1, 2015 were charged to expense in 2015 5) Accrued interest on note receivable at the end of 2015 in the amount P5,000 was not taken up at yearend 6) Unearned rent at the end of 2016 was understated by 20,000 7) Sales on account in 2016 includes interest income of P1,000 8) Collection of accounts receivable for 2,800 was not recorded at the end of 2016 9) No share issuance was made during the year Q1 Net Income 2016 A 512,000 B 478,000 C 500,000 D 422,000, Q2 Retained earnings 12 31 2016 A 1812,000 b 1750000 c 1778,000 d 1722000Q3Q3Q3Q3Q3 Earnings per share 2016 A 5 12 b 4 22 c 5 00 d 4 78 Q4 Total Shareholder equity 2016 A 3278000 b 3222000 c 3250000 d 3012,000 Q5Q5Q5Q5 Book Value per share 2016 A 33 78 b 32 22 c 32 50 d 30 12

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Comprehensive Problem You Are Engaged In The First-Time Audit Of The Financial Statements Of Trina Claire Co, Which Began Operations In 2015. The Following Ratios

Comprehensive Problem You Are Engaged In The First-Time Audit Of The Financial Statements Of Trina Claire Co, Which Began Operations In 2015. The Following Ratios And Other Data Pertaining To The Financial Statements Of Trina Claire Co. For The Year Ended December 31, 2016 Were Provided To You By The Company's Accountant: From The Statement Of PROBLEM 30-15 Comprehensive Problem You are engaged in the first-time audit of the financial statements of Trina Claire Co, w please show me solutions, thank youu! Show transcribed image text Expert Answer Since you have asked multiple questions, we will solve the first…View the full answer answer image blur PROBLEM 30-15 Comprehensive Problem You are engaged in the first-time audit of the financial statements of Trina Claire Co, which began operations in 2015. The following ratios and other data pertaining to the financial statements of Trina Claire Co. for the year ended December 31, 2016 were provided to you by the company's accountant: From the Statement of Financial Position: Ordinary share capital, P10 par P1,000,000 Share premium 500,000 Retained earnings, 12/31/2016 1,800,000 Computed ratios: Basic earnings per share P5 Book value per share 33 Additional information: 1) The 2015 ending inventory was overstated by 50,000. 2) Accrued expenses at the end of 2016 amounting to 30,000 were not recorded. 3) Sale of merchandise on account in 2015 for P45,000 was erroneously recorded in 2016. 4) One year insurance premium of P48,000 effective August 1, 2015 were charged to expense in 2015. 5) Accrued interest on note receivable at the end of 2015 in the amount P5,000 was not taken up at yearend. 6) Unearned rent at the end of 2016 was understated by 20,000. 7) Sales on account in 2016 includes interest income of P1,000. 8) Collection of accounts receivable for 2,800 was not recorded at the end of 2016. 9) No share issuance was made during the year. Q1: Net Income 2016? A. 512,000 B. 478,000 C. 500,000 D. 422,000, Q2: Retained earnings 12/31/2016? A. 1812,000 b. 1750000 c. 1778,000 d. 1722000Q3Q3Q3Q3Q3: Earnings per share 2016? A.5.12 b. 4. 22 c 5.00 d. 4.78 Q4: Total Shareholder equity 2016? A 3278000 b. 3222000 c. 3250000 d. 3012,000 Q5Q5Q5Q5: Book Value per share 2016? A. 33.78 b. 32.22 c. 32.50 d. 30.12