6.  On December 31, 2021, the property dividends are yet to be distributed to owners. The entries on December 31, 2021 include all of the following except   Group of answer choices A debit to retained earnings for P1,200,000 A credit to gain on impairment recovery for P1,200,000 A credit to property dividends payable for P1,200,000 None of these

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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6. 

  • On December 31, 2021, the property dividends are yet to be distributed to owners. The entries on December 31, 2021 include all of the following except

 

Group of answer choices
A debit to retained earnings for P1,200,000
A credit to gain on impairment recovery for P1,200,000
A credit to property dividends payable for P1,200,000
None of these
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