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What the amount of retained earnings available for dividends

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Question 1: At the beginning of 2019, QQ Company had retained earnings of P150,000. During the year QQ reported net income of P75,000, sold treasury shares at a "gain" of P27,000, declared a cash dividend of P45,000, and declared and issued a small share dividend of 1,500 shares (P10 par value) when the fair value of the shares was P30 per share. The amount of retained earnings available for dividends at the end of 2019 was

Reference no: EM132894479

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