Eunice Company provided the following information: Dividends on 1,000 cumulative preference shares, 6%, P10 par value, have not been declared or paid for 3 years. Treasury shares that cost P15,000 were reissued for P8,000. What amount of retained earnings should be appropriated as a result of these items?

Eunice Company provided the following information: Dividends on 1,000 cumulative preference shares, 6%, P10 par value, have not been declared or paid for 3 years. Treasury shares that cost P15,000 were reissued for P8,000. What amount of retained earnings should be appropriated as a result of these items?

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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