30. The market price of each ordinary share is 27 on October 1, 24 pesos on October 30 and 35 pesos on November 20 Instructions:prepare the entries to record the declaration and distribution of stock dividends under each of the following assumptions 1. A 18% share capital dividend was declared and issued 2. A 50% share capital dividend was declared and issued

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Lmn corporation has 500,000 shares of 10 pesos per value ordinary share capital outstanding as of October 1 2021. On this date the board of directors declared a share capital dividend distributable on November 20 2021 to a shareholder of a record of October 30. The market price of each ordinary share is 27 on October 1, 24 pesos on October 30 and 35 pesos on November 20 Instructions:prepare the entries to record the declaration and distribution of stock dividends under each of the following assumptions 1. A 18% share capital dividend was declared and issued 2. A 50% share capital dividend was declared and issued
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