At its meeting on December 1, 2021, the board of directors of ABC Co. declares a cash dividend of P2 per share, payable on February 1, 2022 to shareholders of record on December 25, 2021. The following are the ordinary shares outstanding on different dates: December 1, 2021 - 40,000 shares December 25, 2021 - 50,000 shares December 31, 2021 - 55,000 shares February 1, 2022 - 60,000 shares On December 31, 2021, what is the amount of dividend payable that should be recognized in the statement of financial position? a. P80,000 b. P100,000 c. P110,000 d. P120,000
At its meeting on December 1, 2021, the board of directors of ABC Co. declares a cash dividend of P2 per share, payable on February 1, 2022 to shareholders of record on December 25, 2021. The following are the ordinary shares outstanding on different dates: December 1, 2021 - 40,000 shares December 25, 2021 - 50,000 shares December 31, 2021 - 55,000 shares February 1, 2022 - 60,000 shares On December 31, 2021, what is the amount of dividend payable that should be recognized in the statement of financial position? a. P80,000 b. P100,000 c. P110,000 d. P120,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 1MC: Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter...
Related questions
Question
At its meeting on December 1, 2021, the board of directors of ABC Co. declares a cash dividend of P2 per share, payable on February 1, 2022 to shareholders of record on December 25, 2021. The following are the ordinary shares outstanding on different dates:
- December 1, 2021 - 40,000 shares
- December 25, 2021 - 50,000 shares
- December 31, 2021 - 55,000 shares
- February 1, 2022 - 60,000 shares
On December 31, 2021, what is the amount of dividend payable that should be recognized in the
a. P80,000
b. P100,000
c. P110,000
d. P120,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning