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Given Data: Taiwan Chips Inc. a manufacturer, showed the following equity information as at December 31, 2018: Taiwan Chips Inc. Equity Section of the Balance
Given Data: Taiwan Chips Inc. a manufacturer, showed the following equity information as at December 31, 2018: Taiwan Chips Inc. Equity Section of the Balance Sheet December 31, 2019 A Contributed capital: Preferred share, $4.60 non-cumulative; 100,000 shares authorized 75,000 share issued and outstanding Common shares; unlimited share authorized; E shares issued and outstanding Total contributed capital Retained earnings Total equity B $9,000,000 D a. Other information: The preferred share had sold for an average price of $ 3.00. b. The common share had sold for an average price of $9.00. Retained Earnings at December 31, 2017, was $198,000. During 2018, profit earned was $1,928,000. The board of directors declared a total cash dividend of $540,000. c. Required Calculate A, B, C, D and E. Given Data: Taiwan Chips Inc. a manufacturer, showed the following equity information as at December 31, 2018: Taiwan Chips Inc. Equity Section of the Balance Sheet December 31, 2019 A Contributed capital: Preferred share, $4.60 non-cumulative; 100,000 shares authorized 75,000 share issued and outstanding Common shares; unlimited share authorized; E shares issued and outstanding Total contributed capital Retained earnings Total equity B $9,000,000 D a. Other information: The preferred share had sold for an average price of $ 3.00. b. The common share had sold for an average price of $9.00. Retained Earnings at December 31, 2017, was $198,000. During 2018, profit earned was $1,928,000. The board of directors declared a total cash dividend of $540,000. c. Required Calculate A, B, C, D and E
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