Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2019, the total shareholders equity of Marie Co. was P8,000,000. The entity also had 500,000, P5 par ordinary shares issued, 20% of

On January 1, 2019, the total shareholders equity of Marie Co. was P8,000,000. The entity also had 500,000, P5 par ordinary shares issued, 20% of which were held by the company as treasury shares at P18. These shares were originally issued at P9 per share. During 2019 the following transactions that affected the entitys shareholders equity occurred:

a. 100,000 ordinary shares were issued at P22 per share on February 1. b. Half of the treasury shares were reissued at P15 per share on March 31. c. The entity declared a 12% share dividend on all of its outstanding shares on April 22, when each share was trading at P20 per share. These were distributed on April 30. d. Net income during the year was P1,404,000.

Compute for the book value per share on December 31, 2019.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Quality Audits For Improved Performance

Authors: Dennis R. Arter

3rd Edition

0873895703, 978-0873895705

More Books

Students also viewed these Accounting questions

Question

What matrix corresponds to differentiation in each case? D: P3 P2

Answered: 1 week ago