The ABC Corp. was organized on September 1. 2022. with authorized capital of 1,000,000 shares of P50 par value, Ordinary Share Capital. Six Hundred Fifty thousand (850,000) shares were issued for cash at P70 per share. During the year, the company posted a profit of P12,500,000 and distributed dividends of P8,500,000. Dividend per share paid on ordinary share capital as of December 31, 2022, amounted to

The ABC Corp. was organized on September 1. 2022. with authorized capital of 1,000,000 shares of P50 par value, Ordinary Share Capital. Six Hundred Fifty thousand (850,000) shares were issued for cash at P70 per share. During the year, the company posted a profit of P12,500,000 and distributed dividends of P8,500,000. Dividend per share paid on ordinary share capital as of December 31, 2022, amounted to

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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