3. On Oct. 31, 2017, Claire company declared property dividend to be paid on March 31, 2018. The property declared as dividend is the 20,000 shares of equity securities it owned from LIM company with carrying amount of P90 per share. These shares have a quoted price of P130 on Oct. 31, 2017, P150 on December 31, 2017 and P110 on March 31, 2018. a. Prepare the pertinent entries on Oct. 31, 2017, December 31, 2017 and March 31, 2018.
3. On Oct. 31, 2017, Claire company declared property dividend to be paid on March 31, 2018. The property declared as dividend is the 20,000 shares of equity securities it owned from LIM company with carrying amount of P90 per share. These shares have a quoted price of P130 on Oct. 31, 2017, P150 on December 31, 2017 and P110 on March 31, 2018. a. Prepare the pertinent entries on Oct. 31, 2017, December 31, 2017 and March 31, 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3. On Oct. 31, 2017, Claire company declared property dividend to be paid on March 31,
2018. The property declared as dividend is the 20,000 shares of equity securities it
owned from LIM company with carrying amount of P90 per share. These shares have
a quoted price of P130 on Oct. 31, 2017, P150 on December 31, 2017 and P110 on
March 31, 2018.
a. Prepare the pertinent entries on Oct. 31, 2017, December 31, 2017 and March 31,
2018.
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