The following information was taken from the accounts of JT Corp at year end: Total income since incorporation P900,000 Total cash dividends paid P260,000 Proceeds from sale of donated shares P 90,000 Total value of share dividends distributed P60,000 Excess of proceeds over cost of treasury stocks sold P140,000 What should be the current balance of retained earnings? a. P780,000 b. P520,000 c. P720,000 d. P580,000
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1. The following information was taken from the accounts of JT Corp at year end:
Total income since incorporation P900,000
Total cash dividends paid P260,000
Proceeds from sale of donated shares P 90,000
Total value of share dividends distributed P60,000
Excess of proceeds over cost of
What should be the current balance of
a. P780,000
b. P520,000
c. P720,000
d. P580,000
2. see image
choices:
a. 176,000
b. 263,000
c. 204,000
d. 321,000
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