Waec Model Questions Vol1 2021 Financial Accounting Question 26
Practice objective / multiple choice question 26 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
A company had the following equity balances at the beginning of the year: Share capital ₦500,000 (100,000 shares of ₦5 each), Share premium ₦150,000 and Retained earnings ₦200,000. During the year the company earned a profit before tax of ₦120,000 and paid tax of ₦30,000. It declared and paid a cash dividend of ₦20,000. A bonus issue of 1 new share for every 4 shares held was made at par value. Later the company bought back and cancelled 2,000 of its own shares at ₦7 each. What is the total shareholders' equity at the end of the year?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 26. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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