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At the beginning of the current year, BFAR Company had Accumulated Profits of P4,000,000. During the year, the entity reported a net income of P2,000,000. . The entity declared a cash dividend of P1,200,000. Declared and issued small share dividends of 60,000 shares with a par value of P10 par when the fair market value was P20 Compute the balance of Accumulated Profits for dividends at the end of the current year. ● .

At the beginning of the current year, BFAR Company had Accumulated Profits of P4,000,000. During the year, the entity reported a net income of P2,000,000. . The entity declared a cash dividend of P1,200,000. Declared and issued small share dividends of 60,000 shares with a par value of P10 par when the fair market value was P20 Compute the balance of Accumulated Profits for dividends at the end of the current year. ● .

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, BFAR Company had Accumulated Profits of P4,000,000. During the year, the entity reported a net income of P2,000,000. The entity declared a cash dividend of P1,200,000. . Declared and issued small share dividends of 60,000 shares with a par value of P10 par when the fair market value was P20. Compute the balance of Accumulated Profits for dividends at the end of the current year. ● ●
Transcribed Image Text:At the beginning of the current year, BFAR Company had Accumulated Profits of P4,000,000. During the year, the entity reported a net income of P2,000,000. The entity declared a cash dividend of P1,200,000. . Declared and issued small share dividends of 60,000 shares with a par value of P10 par when the fair market value was P20. Compute the balance of Accumulated Profits for dividends at the end of the current year. ● ●
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