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2019 2020 2021 2022 Capital Liquidated 90,000 120,000 160,000 180,000 Accumulated Depletion 100,000 150,000 160,000 210,000 Retained Earnings 200,000 250,000 340,000 290,000

2019 2020 2021 2022 Capital Liquidated 90,000 120,000 160,000 180,000 Accumulated Depletion 100,000 150,000 160,000 210,000 Retained Earnings 200,000 250,000 340,000 290,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Following are the balances of accounts of a wasting asset entity:

 

  1. How much is the maximum dividends that can be declared for 2020?
  2. How much dividends were declared in 2021?
  3. How much of the maximum dividends was not declared for distribution in 2022?
2019 2020 2021 2022 Capital Liquidated 90,000 120,000 160,000 180,000 Accumulated Depletion 100,000 150,000 160,000 210,000 Retained Earnings 200,000 250,000 340,000 290,000
Transcribed Image Text:2019 2020 2021 2022 Capital Liquidated 90,000 120,000 160,000 180,000 Accumulated Depletion 100,000 150,000 160,000 210,000 Retained Earnings 200,000 250,000 340,000 290,000
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