Using the information in AA8, how much is the total amount of Retained Earnings?P 150,000P 100,000P 450,000P 700,000 AA8The adjusted trial balance of ZZZ Corp. on December 31, 2021 includes the followingaccount balances:Dividends PayableP 40,000Ordinary Share Capital (P5 par, 500,000 shares750,000authorized)Ordinary Share Capital Subscribed (10,000 shares)25,000Ordinary Share Premium50,00010% Preference Share Capital (25,000 shares authorized,12,000 shares outstanding)300,000Preference Share Premium30,000Retained Earnings Appropriated for Contingencies150,000Retained Earnings Appropriated for Bond Retirement100,000Retained Earnings-Unappropriated450,000Ordinary Share Capital Dividends Distributable105,000Paid-in Capital from Share Capital Dividend63,000

Retained earnings means the amount that is left after paying all the expenses and amount that…

Answered: Using the information in AA8, how much…

Using the information in AA8, how much is the total amount of Retained Earnings? P 150,000 P 100,000 P 450,000 P 700,000

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 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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Question

Using the information in AA8, how much is the total amount of Retained Earnings?
P 150,000
P 100,000
P 450,000
P 700,000

AA8
The adjusted trial balance of ZZZ Corp. on December 31, 2021 includes the following
account balances:
Dividends Payable
P 40,000
Ordinary Share Capital (P5 par, 500,000 shares
750,000
authorized)
Ordinary Share Capital Subscribed (10,000 shares)
25,000
Ordinary Share Premium
50,000
10% Preference Share Capital (25,000 shares authorized,
12,000 shares outstanding)
300,000
Preference Share Premium
30,000
Retained Earnings Appropriated for Contingencies
150,000
Retained Earnings Appropriated for Bond Retirement
100,000
Retained Earnings-Unappropriated
450,000
Ordinary Share Capital Dividends Distributable
105,000
Paid-in Capital from Share Capital Dividend
63,000

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