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What total amount was charged to retained earnings

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Question - On December 1, 2019, ABC Company declared property dividends in the form of pieces of equipment. On that date, the carrying value of the equipment to be distributed is P 750,000 and its fair value is P 800,000. On December 31, 2019, the fair value of the equipment has decreased to 700,000 and on the date of distribution which on January 15,2020, it has increased to P 800,000. What total amount was charged to Retained Earnings pertaining to the property dividends declared?

Reference no: EM132826541

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