An entity provided the following information on December 31, 2025: 200,000 Retained earnings unappropriated, January 1 Overdepreciation of 2014 due to prior period error Net income for 2015 100,000 1,300,000 300,000 Retained earnings appropriated for treasury shares (original balance is P500,000 but reduced by P200,000 by reason of reissuance of the treasury shares) Retained earnings appropriated for contingencies 800,000 (beginning balance P700,000 but increased by current appropriation of P100,000) Cash dividends paid to shareholders 500,000 - Change in accounting policy from FIFO to average credit 150,000 adjustment What is the balance of unappropriated retained earnings on December 31, 2025?

An entity provided the following information on December 31, 2025: 200,000 Retained earnings unappropriated, January 1 Overdepreciation of 2014 due to prior period error Net income for 2015 100,000 1,300,000 300,000 Retained earnings appropriated for treasury shares (original balance is P500,000 but reduced by P200,000 by reason of reissuance of the treasury shares) Retained earnings appropriated for contingencies 800,000 (beginning balance P700,000 but increased by current appropriation of P100,000) Cash dividends paid to shareholders 500,000 - Change in accounting policy from FIFO to average credit 150,000 adjustment What is the balance of unappropriated retained earnings on December 31, 2025?

Name: An entity provided the following information on December 31, 2025:200
Uploaded: 2024-03-04T10:43:15.000Z
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Description: An entity provided the following information on December 31, 2025:200,000Retained earnings unappropriated, January 1Overdepreciation of 2014 due to prior period errorNet income for 2015100,0001,300,000300,000Retained earnings appropriated for treasu

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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