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Compute the maximum amount of dividend that ABC can declare

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Reference no: EM132941330

Question - ABC Company provides the following balances at the end 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

Required - Compute the maximum amount of dividend that ABC can declare on December 31, 2020.

Reference no: EM132941330

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