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- appropriated retained

- appropriated retained

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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At the beginning of the current year, ABC Co. reported P1,750,000 of appropriated retained earnings for the construction of the new building which was completed late in the current year. For the current year, P1,200,000 was appropriated for plant expansion. P1,500,000 cash was restricted for the retirement of bonds payable. Also, the company acquired treasury shares for a total cost of P500,000. On December 31 of the current year, the entity should report appropriated retained earnings of To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
Transcribed Image Text:At the beginning of the current year, ABC Co. reported P1,750,000 of appropriated retained earnings for the construction of the new building which was completed late in the current year. For the current year, P1,200,000 was appropriated for plant expansion. P1,500,000 cash was restricted for the retirement of bonds payable. Also, the company acquired treasury shares for a total cost of P500,000. On December 31 of the current year, the entity should report appropriated retained earnings of To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
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