Reference no: EM132718754
On January 2, 2014, Mining Corp. declared a cash dividend of P600,000 to shareholders of record on January 19, 2014 and payable on February 14, 2014. The following data pertain to 2013:
Net income for the year ended December 31, 2013..................P190,000
Share Premium, December 31, 2013....................................................675,000
Accumulated Profits, December 31, 2013.........................................425,000
Problem 1: The P600,000 dividend includes a liquidating dividend of:
a. P-0-
b. P175,000
c. P410,000
d. P485,000
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