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What amount should transferred to retained earnings account

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Question - Aviniante Corp. shareholders' equity comprises 8,000 shares of P20 ordinary shares, P40,000 of additional contributed capital on ordinary share, and retained earnings of P90,000. If 6% share dividends is declared when the share is selling at P50 per share, what amount should be transferred to Retained Earnings account?

Reference no: EM133173526

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