3. The following information are available for ABC Corporation: Ordinary shares, P100 par value, 50,000 shares issued Share premium Retained earnings P 5,000,000 200,000 2,000,000 Market value - declaration date 150 Market value - distribution date 170 Prepare the entries on the date of declaration and distribution assuming: а. 25% share dividends are declared b. 10% share dividends are declared

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Financia Accounting & Reporting: Dividend Distribution

3. The following information are available for ABC Corporation:
Ordinary shares, P100 par value, 50,000 shares issued
Share premium
Retained earnings
P 5,000,000
200,000
2,000,000
Market value - declaration date
150
Market value - distribution date
170
Prepare the entries on the date of declaration and distribution assuming:
а.
25% share dividends are declared
b. 10% share dividends are declared
Transcribed Image Text:3. The following information are available for ABC Corporation: Ordinary shares, P100 par value, 50,000 shares issued Share premium Retained earnings P 5,000,000 200,000 2,000,000 Market value - declaration date 150 Market value - distribution date 170 Prepare the entries on the date of declaration and distribution assuming: а. 25% share dividends are declared b. 10% share dividends are declared
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