Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances: Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding Share premium - ordinary shares ? 280,000 75,000 75,000 80,000 Treasury shares at cost Retained earnings, appropriated for treasury shares Retained earnings, appropriated for contingencies Retained earnings, appropriated for bond redemption Retained earnings, unappropriated What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign). 180,000 150,000
Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances: Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding Share premium - ordinary shares ? 280,000 75,000 75,000 80,000 Treasury shares at cost Retained earnings, appropriated for treasury shares Retained earnings, appropriated for contingencies Retained earnings, appropriated for bond redemption Retained earnings, unappropriated What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign). 180,000 150,000
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...
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![Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances:
Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding
Share premium - ordinary shares
Treasury shares at cost
Retained earnings, appropriated for treasury shares
Retained earnings, appropriated for contingencies
?
280,000
75,000
75,000
80,000
180,000
150,000
Retained earnings, appropriated for bond redemption
Retained earnings, unappropriated
What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign).
Save Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa822ad20-0326-4026-96a3-fb5a29fa48f6%2Fa143c678-1ede-4abb-b02d-e84041407bff%2Fyic7qs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances:
Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding
Share premium - ordinary shares
Treasury shares at cost
Retained earnings, appropriated for treasury shares
Retained earnings, appropriated for contingencies
?
280,000
75,000
75,000
80,000
180,000
150,000
Retained earnings, appropriated for bond redemption
Retained earnings, unappropriated
What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign).
Save Answer
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