Using the information in AA8, how much is the total amount of Retained Earnings? P 150,000 P 100,000 P 450,000 P 700,000

Extracted text: Using the information in AA8, how much is the total amount of Retained Earnings? P 150,000 P 100,000 P 450,000 P 700,000


Extracted text: AA8 The adjusted trial balance of ZZZ Corp. on December 31, 2021 includes the following account balances: Dividends Payable P 40,000 Ordinary Share Capital (P5 par, 500,000 shares 750,000 authorized) Ordinary Share Capital Subscribed (10,000 shares) 25,000 Ordinary Share Premium 50,000 10% Preference Share Capital (25,000 shares authorized, 12,000 shares outstanding) 300,000 Preference Share Premium 30,000 Retained Earnings Appropriated for Contingencies 150,000 Retained Earnings Appropriated for Bond Retirement 100,000 Retained Earnings-Unappropriated 450,000 Ordinary Share Capital Dividends Distributable 105,000 Paid-in Capital from Share Capital Dividend 63,000