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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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