#22 At the beginning of the current year, Flor company had retained earnings of P4,800,000. During the year, the entity reported net income of P2,400,000, sold treasury shares at a “gain” of P864,000, declared a cash dividend of P1,440,000 and declared and issued a small share dividend of 72,000 shares with P10 par value when the fair value of the share was P20. What is the amount of retained earnings available for dividends at the end of the current year? 4,320,000 pls provide correct solution for the given answer
#22 At the beginning of the current year, Flor company had retained earnings of P4,800,000. During the year, the entity reported net income of P2,400,000, sold treasury shares at a “gain” of P864,000, declared a cash dividend of P1,440,000 and declared and issued a small share dividend of 72,000 shares with P10 par value when the fair value of the share was P20. What is the amount of retained earnings available for dividends at the end of the current year? 4,320,000 pls provide correct solution for the given answer
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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#22
At the beginning of the current year, Flor company had
the year, the entity reported net income of P2,400,000, sold treasury shares at a “gain” of
P864,000, declared a cash dividend of P1,440,000 and declared and issued a small share
dividend of 72,000 shares with P10 par value when the fair value of the share was P20. What is
the amount of retained earnings available for dividends at the end of the current year?
4,320,000 pls provide correct solution for the given answer
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