Jimin Corporation had the following shareholders’ equity accounts before the declaration of dividend: >Ordinary Share Capital, P5 par, 500,000 shares authorized-P1,500,000 >Additional Paid in Capital- P1,550,000 > Retained Earnings- P1,210,000 Market value of the Ordinary Share Capital on the date of declaration is P30 per share and P45 per share on the date of issuance. Assuming that the corporation declared and distributed a 10% share dividend, what was the total contributed capital after the issuance of the bonus shares?
Jimin Corporation had the following shareholders’ equity accounts before the declaration of dividend: >Ordinary Share Capital, P5 par, 500,000 shares authorized-P1,500,000 >Additional Paid in Capital- P1,550,000 > Retained Earnings- P1,210,000 Market value of the Ordinary Share Capital on the date of declaration is P30 per share and P45 per share on the date of issuance. Assuming that the corporation declared and distributed a 10% share dividend, what was the total contributed capital after the issuance of the bonus shares?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jimin Corporation had the following shareholders’ equity accounts before the declaration of dividend:
>Ordinary Share Capital, P5 par, 500,000 shares authorized-P1,500,000
>Additional Paid in Capital- P1,550,000
> Retained Earnings - P1,210,000
Market value of the Ordinary Share Capital on the date of declaration is P30 per share and P45 per share on the date of issuance. Assuming that the corporation declared and distributed a 10% share dividend, what was the total contributed capital after the issuance of the bonus shares?
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