found in the records of Alamo Corporation: authorized share capital of par P100 is P10,000,000 of which P5000,00 their balances are The following accounts and was issued and its accumulated earnings as of January 1 is P1,275,000. You were given the following additional information: Cash Dividends of P10, June 30 Appropriation for Plant Expansion, December 1 Net Loss for the year P 500,000 250,000 80,000 Direction: a) Give the entries needed for the above information b) What is the balance of the free or unrestricted retained earnings a December 31?
found in the records of Alamo Corporation: authorized share capital of par P100 is P10,000,000 of which P5000,00 their balances are The following accounts and was issued and its accumulated earnings as of January 1 is P1,275,000. You were given the following additional information: Cash Dividends of P10, June 30 Appropriation for Plant Expansion, December 1 Net Loss for the year P 500,000 250,000 80,000 Direction: a) Give the entries needed for the above information b) What is the balance of the free or unrestricted retained earnings a December 31?
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 1BCRQ
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1. The following accounts and their balances are found in the records of
Alamo Corporation: authorized share capital of par P100 is P10,000,000 of which P5,000,000 was issued and its
(see attached image for the given. Please answer it. Thank youu so much!)
Direction:
a) Give the entrics needed for the above information.
b) What is the dalance of the free or unrestricted retained earnings as of December 31.
Transcribed Image Text:00,000
erc given
1. The following accounts and their balances are found in the records of Alamo
was issued and its accumulated earnings as of January 1 is P1,275,000. Y ou were given
Corporation: authorized share capital of par P100 is P10,000,000 of which P5,000,000
b) What is the balance of the free or unrestricted retained earnings as of
the following additional information:
Cash Dividends of P10, June 30
Appropriation for Plant Expansion, December 1
Net Loss for the year
250,000
80,000
Direction: a) Give the entries needed for the above information
December 31?
2. The records of Alamo Corporation showed the following data:
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