On June 1, 2020, Sunny Corporation declared a share capital dividend entitling its shareholders to one additional share for each share held. At the time the dividend was declared, the market value was P 100 per share and the par value was P 50 per share. On this date, Golden had 65,000 shares issued and 5,000 shares in the treasury. What is the amount of deduction to Retained Earnings this June 1 transaction?
On June 1, 2020, Sunny Corporation declared a share capital dividend entitling its shareholders to one additional share for each share held. At the time the dividend was declared, the market value was P 100 per share and the par value was P 50 per share. On this date, Golden had 65,000 shares issued and 5,000 shares in the treasury. What is the amount of deduction to Retained Earnings this June 1 transaction?
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...
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41. On June 1, 2020, Sunny Corporation declared a share capital dividend entitling its shareholders to one additional share for each share held. At the time the dividend was declared, the market value was P 100 per share and the par value was P 50 per share. On this date, Golden had 65,000 shares issued and 5,000 shares in the treasury. What is the amount of deduction to
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