property dividend to be recognized on Fe
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
56
Transcribed Image Text:What is the loss on distribution of property dividend to be recognized on February
1,2020?
*
Alpha Company declared on December 1,2019 its 10 brand new fleet of cars costing P 500,000 each as property dividends
to be distributed on February 1,2020 to its ten shareholders. The following fair value less cost to distribute of the cars was
determined to be:
P 4,800,000
December 1,2019
December 31,2019
4,500,000
February 1,2020
4,000,000
P 500,000
P 800,000
P 200,000
O PO
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