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property dividend to be recognized on Fe

property dividend to be recognized on Fe

FINANCIAL ACCOUNTING
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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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
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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