The Board of Directors of GHI Corporation declared an annual dividend of P5 pershare on 50,000 shares of P10 par value ordinary shares issued and outstandingat their meeting on December 10, 2020. This is payable on March 31,2021 toshareholders of record on December 31,2020.5. Which of the following is thecorrect entry to be made on March 31, 2021. *O Debit Dividends Payable P250,000 and Credit Cash P250,000O Debit Dividends Payable P500,000 and Credit Retained Earnings P500,000Debit Retained Earnings P250,000 and Credit Dividends Payable P250,000No entry should be made because the books have already been updated on December31, 2020

When the dividends are declared by the board of directors to be paid to the shareholders, a journal…

s of P10 par value ordinary shares issued and outstan cember 10, 2020. This is payable on March 31,2021 to on December 31,2020.5. Which of the following is th de on March 31, 2021. * ble P250,000 and Credit Cash P250,000 ble P500,000 and Credit Retained Earnings P500,000 ngs P250,000 and Credit Dividends Payable P250,000 ade because the books have already been updated on Dece

s of P10 par value ordinary shares issued and outstan cember 10, 2020. This is payable on March 31,2021 to on December 31,2020.5. Which of the following is th de on March 31, 2021. * ble P250,000 and Credit Cash P250,000 ble P500,000 and Credit Retained Earnings P500,000 ngs P250,000 and Credit Dividends Payable P250,000 ade because the books have already been updated on Dece

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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Problem: Earnings per Share. (Pls help and provide supporting computations)