Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share of common stocks. What is the addition to retained earnings? Assume that the Empirana has the following. Capital Stock 9,000 shares of preferred stocks, 7% par value of P100 each 200,000 share of common stocks, par value of P30 each

Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share of common stocks. What is the addition to retained earnings? Assume that the Empirana has the following. Capital Stock 9,000 shares of preferred stocks, 7% par value of P100 each 200,000 share of common stocks, par value of P30 each

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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Question

Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share of common stocks.
What is the addition to retained earnings? Assume that the Empirana has the following.
Capital Stock
9,000 shares of preferred stocks, 7% par value of P100 each
200,000 share of common stocks, par value of P30 each
Select one:
O a. P700,000.00
O b. P260,000.00
O c. P197,000.00
d. No answer
e. P763,000.00

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