Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2020 a company had the following equity balances. CHF Share Capital Ordinary (200,000 shares issued) 600,000 Share Premium Ordinary 400,000

On January 1, 2020 a company had the following equity balances.

CHF

Share Capital – Ordinary (200,000 shares issued) 600,000

Share Premium – Ordinary 400,000

Retained Earnings 500,000

During 2020, the following transactions and events occurred:

a) Issued 20,000 ordinary shares for cash at CHF4 per share.

b) Purchased 20,000 ordinary shares for the treasure at CHF6 per share.

c) Declared and paid cash dividend of CHF100,000.

d) Sold 5,000 treasury shares for cash at CHF5 per share.

e) Earned net profit of CHF10,000.

Please do not use thousands separators (,).

Determine the values as at 31 December 2020

Answer (CHF in thousands)

Share capital

Answer

Share premium

Answer

Retained earnings

Answer

Treasury shares

Answer

Total equity

Answer

Step by Step Solution

3.39 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

Answer a Share capital 620000 b Share premium 400000 c Retained earnings 510000 d Treasury shares 15... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

39th Edition

978-1305399884

More Books

Students also viewed these Accounting questions

Question

Why does the lack of a brown color in feces indicate hepatitis?

Answered: 1 week ago