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IA3 Chapter 15 Answers

The document contains financial information for three periods: 1) Period 15-2 which shows a net income of ₱3,250,000 consisting of revenues from ending retained earnings and dividends less beginning retained earnings. 2) Period 15-8 which shows a net income of ₱500,000 consisting of an increase in net assets less dividends and beginning capital. 3) Period 15-11 which shows a net loss of ₱100,000 consisting of ending equity less share capital, share premium, ending retained earnings, dividends and beginning retained earnings.

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913 views

IA3 Chapter 15 Answers

The document contains financial information for three periods: 1) Period 15-2 which shows a net income of ₱3,250,000 consisting of revenues from ending retained earnings and dividends less beginning retained earnings. 2) Period 15-8 which shows a net income of ₱500,000 consisting of an increase in net assets less dividends and beginning capital. 3) Period 15-11 which shows a net loss of ₱100,000 consisting of ending equity less share capital, share premium, ending retained earnings, dividends and beginning retained earnings.

Uploaded by

Bea Tumulak
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PR 15-2

RE, end ₱4,500,000.00


Cash dividend ₱1,000,000.00
Share dividend (750k + 500k) ₱1,250,000.00
Less: RE, beg -₱3,500,000.00
Net income ₱3,250,000.00 A.

PR 15-8

Increase in net assets


(800k+250k+1250k-500k+400k-900k) ₱1,300,000.00
Dividend ₱300,000.00
Capital, beg (1M + 100k) -₱1,100,000.00
Net income ₱500,000.00 C.

PR 15-11

Debt to equity ratio = 50%


Assets = x + 2x
3M = x + 2x
x = 1M
Liabilities = 1M; Equity = 2M

Equity ₱2,000,000.00
Less: Share capital ₱1,000,000.00
Share premium ₱500,000.00 ₱1,500,000.00
RE, end ₱500,000.00
Dividend ₱700,000.00
Net loss ₱100,000.00
RE, beg. ₱1,300,000.00 B.

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