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The following information was taken from the accounts of JT Corp at year end: Total income since incorporation     P900,000 Total cash dividends paid                  P260,000 Proceeds from sale of donated shares  P  90,000 Total value of share dividends distributed    P60,000 Excess of proceeds over cost of treasury stocks sold    P140,000 What should be the current balance of retained earnings?

The following information was taken from the accounts of JT Corp at year end: Total income since incorporation     P900,000 Total cash dividends paid                  P260,000 Proceeds from sale of donated shares  P  90,000 Total value of share dividends distributed    P60,000 Excess of proceeds over cost of treasury stocks sold    P140,000 What should be the current balance of retained earnings?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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The following information was taken from the accounts of JT Corp at year end:
Total income since incorporation     P900,000
Total cash dividends paid                  P260,000
Proceeds from sale of donated shares  P  90,000
Total value of share dividends distributed    P60,000
Excess of proceeds over cost of treasury stocks sold    P140,000
What should be the current balance of retained earnings?

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