Problem #2 Share Dividends Assume the following data: Ordinary Shares, P100 par value, 50,000 shares issued P5,000,000 Share Premium 200,000 Retained Earnings 2,000,000 Market Value-declaration date 150 Market Value-distribution date 170 Required: For each of the following assumptions, prepare entries on the date of declaration and date of payment: 1. A 20% share dividends is declared on ordinary shares. 2. A 10% share dividends is declared on ordinary shares.

Problem #2 Share Dividends Assume the following data: Ordinary Shares, P100 par value, 50,000 shares issued P5,000,000 Share Premium 200,000 Retained Earnings 2,000,000 Market Value-declaration date 150 Market Value-distribution date 170 Required: For each of the following assumptions, prepare entries on the date of declaration and date of payment: 1. A 20% share dividends is declared on ordinary shares. 2. A 10% share dividends is declared on ordinary shares.

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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