Large Share Dividends The Pallorina Corporation board of directors voted on Nov. 1, 2018, to declare a 45% share dividend, distributable on Dec. 31, to shareholders of record as of Dec. 1. Pallorina's articles authorize the issuance of 200,000 shares of P40 par ordinary shares. As of Nov. 1, 2018, 50,000 ordinary shares are issued and outstanding. The market price of Pallorina stock on Nov. 1 is P85 per share. Kequired: Prepare the entries needed on the declaration, record and payment dates.

Large Share Dividends The Pallorina Corporation board of directors voted on Nov. 1, 2018, to declare a 45% share dividend, distributable on Dec. 31, to shareholders of record as of Dec. 1. Pallorina's articles authorize the issuance of 200,000 shares of P40 par ordinary shares. As of Nov. 1, 2018, 50,000 ordinary shares are issued and outstanding. The market price of Pallorina stock on Nov. 1 is P85 per share. Kequired: Prepare the entries needed on the declaration, record and payment dates.

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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