Matthew Corporation is authorized to issue 1,500,000 shares of its P10 par Ordinary Shares. It has issued half of the stock for P16 per share, recorded net income of P2,000,000, declared but has not yet paid cash dividend of P150,000 and has split its stock 2.1 all during the first year of operations. How much is the total stockholders' equity at the end of its first year operations?

Matthew Corporation is authorized to issue 1,500,000 shares of its P10 par Ordinary Shares. It has issued half of the stock for P16 per share, recorded net income of P2,000,000, declared but has not yet paid cash dividend of P150,000 and has split its stock 2.1 all during the first year of operations. How much is the total stockholders' equity at the end of its first year operations?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 6EA: James Incorporated is authorized to issue 5,000,000 shares of $1 par value common stock. In its...

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