ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. OnNovember 15, 2022, the company declared a 10% stock dividend distributable to shareholdersof record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABCCorporation as of:October 31, 2022 - P12.00November 15, 2022 P13.00December 31, 2022-P11.75January 15, 2023 - P11.00Entry to record the declaration of dividend should include an entry to retained earningsamounting to

The dividend is declared to the shareholders from the cumulative profits of the business. The share…

ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. On November 15, 2022, the company declared a 10% stock dividend distributable to sharehold of record as of October 31, 2022, payable on January 15, 2023. The fair market value of AB Corporation as of: October 31, 2022-P12.00 November 15, 2022-P13.00 December 31, 2022-P11.75 January 15, 2023 P11.00 1

ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. On November 15, 2022, the company declared a 10% stock dividend distributable to sharehold of record as of October 31, 2022, payable on January 15, 2023. The fair market value of AB Corporation as of: October 31, 2022-P12.00 November 15, 2022-P13.00 December 31, 2022-P11.75 January 15, 2023 P11.00 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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