(a) A company issued Rs. 500,000 6% debenture at par redeemable at par. (b) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at par. (c) A company issued Rs. 500,000 6% debenture at 5% premium redeemable at par. (d) A company issued Rs. 500,000 6% debenture at par redeemable at 10% premium. (e) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at 5% premium.

(a) A company issued Rs. 500,000 6% debenture at par redeemable at par. (b) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at par. (c) A company issued Rs. 500,000 6% debenture at 5% premium redeemable at par. (d) A company issued Rs. 500,000 6% debenture at par redeemable at 10% premium. (e) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at 5% premium.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section: Chapter Questions

Problem 3AP

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1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current assets?
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What is the total shareholders equity?