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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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