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The following information pertains to Imperial Corp. No dividend declaration or payment for 3 years on its 2,000 shares of 6%, P30 par value cumulative
The following information pertains to Imperial Corp.
- No dividend declaration or payment for 3 years on its 2,000 shares of 6%, P30 par value cumulative preference shares.
- Gain on disposal of Imperials Cebu Division of P90,000.
- Treasury shares costing P100,000 reissued for P30,000.
What amount of retained earnings should be restricted as a result of these items?
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Financial Accounting The Basics
Authors: Ilias Basioudis
1st Edition
1138605514, 9781138605510
