The balance in the retained earnings at December 31, 2020 and 2021 respectively are ₱720,000 and ₱582,000. The net income for 2021 was ₱500,000. A share dividend was declared and distributed which increased ordinary share capital by ₱200,000 and share premium by ₱110,000. A cash dividend was declared and paid. What is the amount of cash dividends declared and paid? ₱ 442,000 ₱ 248,000 ₱ 638,000 ₱ 328,000

The balance in the retained earnings at December 31, 2020 and 2021 respectively are ₱720,000 and ₱582,000. The net income for 2021 was ₱500,000. A share dividend was declared and distributed which increased ordinary share capital by ₱200,000 and share premium by ₱110,000. A cash dividend was declared and paid. What is the amount of cash dividends declared and paid? ₱ 442,000 ₱ 248,000 ₱ 638,000 ₱ 328,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8MC: Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde...

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14. The balance in the retained earnings at December 31, 2020 and 2021 respectively are ₱720,000 and ₱582,000. The net income for 2021 was ₱500,000. A share dividend was declared and distributed which increased ordinary share capital by ₱200,000 and share premium by ₱110,000. A cash dividend was declared and paid. What is the amount of cash dividends declared and paid?

₱ 442,000

₱ 248,000

₱ 638,000

₱ 328,000

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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The balance in the retained earnings of HAWKEYE Corporation on December 31, 2020 and 2021 respectively are P720,000 and P582,000. The net income for 2021 was P500,000. A share dividend was declared and distributed which increased ordinary share capital by P200,000 and share premium by P110,000. A cash dividend was declared and paid. What is the amount of cash dividends declared and paid? a. ₱ 638,000 b. ₱ 442,000 c. ₱ 328,000 d. ₱ 248,000
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