Harold Corporation declared share dividends of 1 share for every 5 shares owned on its 300,000 issued and outstanding ordinary shares with a par value of P50 per share. At the time of declaration the fair value of the ordinary shares was P65 per share and P80 per share at the time the shares were issued. What amount should be charged to the Retained Earnings account upon date of declaration?
Harold Corporation declared share dividends of 1 share for every 5 shares owned on its 300,000 issued and outstanding ordinary shares with a par value of P50 per share. At the time of declaration the fair value of the ordinary shares was P65 per share and P80 per share at the time the shares were issued. What amount should be charged to the Retained Earnings account upon date of declaration?
Harold Corporation declared share dividends of 1 share for every 5 shares owned on its 300,000 issued and outstanding ordinary shares with a par value of P50 per share. At the time of declaration the fair value of the ordinary shares was P65 per share and P80 per share at the time the shares were issued. What amount should be charged to the Retained Earnings account upon date of declaration?
Harold Corporation declared share dividends of 1 share for every 5 shares owned on its 300,000 issued and outstanding ordinary shares with a par value of P50 per share. At the time of declaration the fair value of the ordinary shares was P65 per share and P80 per share at the time the shares were issued. What amount should be charged to the Retained Earnings account upon date of declaration?
Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.
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