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How much is retained earnings - appropriated at year - end

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Reference no: EM133190191

Question - Chile Company issued a share capital of 100,000 shares with a P10 par value. Retained earnings on January 1, 2021, are P1,250,800.

During the year:

1. The entity reacquired its own shares of 5,000 at the cost per share of P25.

2. Appropriate P500,000 of cash earnings for the sinking fund .

3. Restrict retained earnings of P1,000,000 for future building expansion.

4. Net income is P1,500,000.

5. Reissue 2,500 shares for P35 per share.

Required - How much is Retained earnings - appropriated at year - end?

Reference no: EM133190191

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