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WHAT IS THE CORRECT BALANCE OF RETAINED EARNINGS ON DECEMBER 31, 2019 The following data are taken from the ledger of EVA CO. Debit Credit
WHAT IS THE CORRECT BALANCE OF RETAINED EARNINGS ON DECEMBER 31, 2019
The following data are taken from the ledger of EVA CO. Debit Credit P80,600 P25,000 42,500 10,000 Retained Earnings Date Particulars 01/01/2017 Balance 06/30/2017 Dividends paid 12/31/2017 Net income for 2017 02/07/2018 Premium on share capital 04/30/2018 Loss on sale of land 09/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 07/01/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 Unrealized loss on FV OCI securities 5,000 20,000 5,800 40,000 1,600 33,700 3,400 What is the correct balance of Retained earnings on December 31, 2019Step by Step Solution
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