Reference no: EM132893574
ABC Company provides the following balances at theend of 2020:
Wasting asset, at cost P80,000,000
Accumulated depletion 20,000,000
Retained earnings 10,000,000
Capital liquidated 15,000,000
Depletion based on 100,000 units extracted at P50 per unit 5,000,000
Inventory of resource deposit(20,000 units) 2,000,000
Problem 1: Compute for the maximum amount of dividend that ABC can declare on December 31, 2020.
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