Question
The balance in Accumulated Profits and Losses at December 31, 2013 was P720,000 and at December 31, 2014 was P582,000.Net income for 2014 was P500,000.A
The balance in Accumulated Profits and Losses at December 31, 2013 was P720,000 and at December 31, 2014 was P582,000.Net income for 2014 was P500,000.A share dividend was declared and distributed which increased ordinary share by P200,000 and share premium by P110,000.A cash dividend was declared and paid.What is the amount of cash dividends being declared and paid?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
