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    Reginald Valencia
    On January 1, 2022, BEST SCHOOL CORP. had the following account balances in its shareholders' equity accounts: - Total share capital of $3,170,000 comprising common stock of $552,500, preferred stock of $1,000,000 and share premiums of $1,617,500. - Retained earnings of $770,000 after deducting property and bonus share dividends totaling $1,030,000 from the opening balance of $2,000,000. - Total shareholders' equity of $3,825,000.

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    Assignment

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    Reginald Valencia
    40 views3 pages
    On January 1, 2022, BEST SCHOOL CORP. had the following account balances in its shareholders' equity accounts: - Total share capital of $3,170,000 comprising common stock of $552,500, preferred stock of $1,000,000 and share premiums of $1,617,500. - Retained earnings of $770,000 after deducting property and bonus share dividends totaling $1,030,000 from the opening balance of $2,000,000. - Total shareholders' equity of $3,825,000.

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    ACC 3

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    On January 1, 2022, BEST SCHOOL CORP. had the following account balances in its shareholders' equity accounts: - Total share capital of $3,170,000 comprising common stock of $552,500, preferred stock of $1,000,000 and share premiums of $1,617,500. - Retained earnings of $770,000 after deducting property and bonus share dividends totaling $1,030,000 from the opening balance of $2,000,000. - Total shareholders' equity of $3,825,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    40 views3 pages

    Assignment

    Uploaded by

    Reginald Valencia
    On January 1, 2022, BEST SCHOOL CORP. had the following account balances in its shareholders' equity accounts: - Total share capital of $3,170,000 comprising common stock of $552,500, preferred stock of $1,000,000 and share premiums of $1,617,500. - Retained earnings of $770,000 after deducting property and bonus share dividends totaling $1,030,000 from the opening balance of $2,000,000. - Total shareholders' equity of $3,825,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 3

    On January 1, 2022, BEST SCHOOL CORP.

     had the following account balances in its shareholders' equity accounts.

    BEST SCHOOL CORP.


    Statement of sahreholders Equity
    December 31, 2022.
    Share Capital
    Common Stock P.5 Par 500K Shares 250000
    Common Stock P.5 Par 15K Shares 7500
    Share premium Common 500000
    Share Premium On bonus issu Common Stock 67500
    Preffered Stock 1000000
    Share premium Preffered Stock 100000

    Total Share Capital

    Retained Earnings 2000000


    Jan-15 Property Dividend -900000
    Jul-18 3% Bonus Issue out of retained Earnings -75000
    Dec-01 (515k Ordinary less 5k Treasury Shares)*.50 -255000
    Dec-31 Net Profit 500000
    Treasury shares, at cost, 5,000 shares -25000
    Total Retained Earnings

    Total Share Holders Equity

    Common Stock P1 Par


    Balance on January 1 250000
    Jan-15 Property Dividend
    Feb-17 Distribuyion of Dividends
    Apr-10 2-for-1 share split
    Total 250000
    July 18 3% Bonus Issue 7500

    Total 257500
    Dec 1 Declared 50Cents Dividend Ordinary
    (515k Ordinary less 5k Treasury Shares)*.50
    Total 257500
    ances in its shareholders' equity accounts.

    sahreholders Equity

    1925000

    1245000

    3170000

    Share premium Common No. of shares Preffered Stock P100 Par Share premium Preffered Stock
    500000 250000 1000000 100000

    500000
    500000 500000 1000000 100000
    52500 15000

    552500 515000 1000000 100000

    552500 515000 1000000 100000


    No. of shares Treasury Stock No. of shares Retained Earnings Total Stock Holders Equity
    10000 25000 5000 2000000 3825000
    -900000

    10000 25000 5000 1100000 3825000


    -75000

    10000 25000 5000 1025000 3825000

    -255000
    10000 25000 5000 770000 3825000

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