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What amount should Milan report as Accumulated Profits

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Reference no: EM132791406

Question - Total income since incorporation P420,000

Total cash dividends paid 130,000

Total value of property dividends distributed 30,000

Excess of proceeds over cost of treasury shares sold 110,000

In its December 31, 2014 financial position, what amount should Milan report as Accumulated Profits?

Reference no: EM132791406

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