n Jan. 1, 2018, the records of Matuguinas Corporation showed the following balances Ordinary Shares, P1 par P 80,000 Share Premium-Ordinary 920,000 Retained Earnings 760,000 On Jan. 15, 2018, the board of directors declared a 3% share dividend; the stock's market price was P50 per share. On Nov. 4, 2018, the board of directors declared a 2- for-1 share split; the stock's market price was P90 per share. Required: 1. How many shares of stock were outstanding on Jan. 1, Mar. 31, and Dec. 31, 2018 assuming no other events related to shareholders' equity occurred? 2. What effect did the share dividends have on total shareholders' equity? 3. Prepare the entries for these two events. 4. Why
On Jan. 1, 2018, the records of Matuguinas Corporation showed the following balances Ordinary Shares, P1 par P 80,000 Share Premium-Ordinary 920,000
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