The company shows a balance of ₱299,500 as of December 31, 2018. During 2019, the company distributed cash dividend amounting to ₱33,000 to its stockholders. At the end of 2019, the Retained Earnings balance reported as ₱312,800. Determine the net income of the company for the year 2019

The company shows a balance of ₱299,500 as of December 31, 2018. During 2019, the company distributed cash dividend amounting to ₱33,000 to its stockholders. At the end of 2019, the Retained Earnings balance reported as ₱312,800. Determine the net income of the company for the year 2019

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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