Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The shareholders of CFAS Company approved a three-for-one share split and an increase in authorized shares from 300,000 shares with P15 par valur to 900.000

image text in transcribed
The shareholders of CFAS Company approved a three-for-one share split and an increase in authorized shares from 300,000 shares with P15 par valur to 900.000 shares with Ps par value The shareholders' equity accounts immediately before the split shares were share capital P2,250,000, share premium P1.150.000 and retained eatines P2.640.000 1. What is the balance of the share preluim after the state split is er effected? 2 What is the balance of the retained earnings after the share split Is effected

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

People Centric Skills Interpersonal And Communication Skills For Financial Professionals

Authors: Danny M. Goldberg

2nd Edition

1119669308, 978-1119669302

More Books

Students also viewed these Accounting questions

Question

2. What is the meaning and definition of Banking?

Answered: 1 week ago

Question

3.What are the Importance / Role of Bank in Business?

Answered: 1 week ago