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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 shareholders of record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABC Corporation as of: October 31, 2022 - P12.00 November 15, 2022 - P13.00 December 31, 2022-P11.75 January 15, 2023 - P11.00 Entry to record the declaration of dividend should include an entry to retained earnings amounting to

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 shareholders of record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABC Corporation as of: October 31, 2022 - P12.00 November 15, 2022 - P13.00 December 31, 2022-P11.75 January 15, 2023 - P11.00 Entry to record the declaration of dividend should include an entry to retained earnings amounting to

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 shareholders of record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABC Corporation as of: October 31, 2022 - P12.00 November 15, 2022 - P13.00 December 31, 2022 - P11.75 January 15, 2023 - P11.00 Entry to record the declaration of dividend should include an entry to retained earnings amounting to
Transcribed Image Text: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 shareholders of record as of October 31, 2022, payable on January 15, 2023. The fair market value of ABC Corporation as of: October 31, 2022 - P12.00 November 15, 2022 - P13.00 December 31, 2022 - P11.75 January 15, 2023 - P11.00 Entry to record the declaration of dividend should include an entry to retained earnings amounting to
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