Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on the beginning of year 2020, the retained earnin

On the beginning of year 2020, the retained earnings had a balance of P 138,850....

60.1K

Verified Solution

Question

Accounting

On the beginning of year 2020, the retained earnings had a balance of P 138,850. The net income for 2020 was P 72,840. If the retained earnings had a credit balance of P 58,950 after closing entries were posted on December 31, 2020, the dividends declared during 2020 is

a. P 131,790

b. P 152,740

c. P 124,960

d. P 197,800

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Which one of the following is located in the Hypothalamus? A. Oculomotor Reflex Center B. Respiratory Reflex Center C....

Physics
1.2K views

A woman rides a carnival Ferris wheel at radius 21 m, completing 4.5 turns about its...

Basic Math
1.2K views

Use the given information to find (a) sin (s+t). (b) tan (s+t), and (c) the...

Statistics
1.2K views

1x 21 x 1

Algebra
1.2K views

Use synthetic or long division and the graph of t x x x 2x 2...

Algebra
1.2K views

Find the exact length of the curve.y = (x + 4) /2, 0?x? 4

Accounting
1.2K views

please answer it right over 50 students are waiting for it. we will all give...

Accounting
1.2K views

all of the following qualify as a like-kind exchange except a. an apartment building held...

Finance
1.2K views

CALCULATE the Total Debt/Total Asset Ratio, Earnings Per Share, Total Assets Turnover Ratio, Net Profit...

Finance
1.2K views

2. value 10.00 points The following table shows cash flow data for Rocket Transport 80,000...

Accounting
1.2K views

Columbia Corporation plans sales of $2,000,000 for the coming period, which top management expects will...

Finance
1.2K views

Condensed financial statements for RSA Sdn Bhd appear below: Comparative Statement of Financial...