Malaki Corporation has an investment in 5,000 shares of Wallace Company ordinary shares with a cost of P218,000. These shares are used in a property dividend to shareholders of Malaki. The property dividend is declared on May 25 and scheduled to be distributed on July 31 to shareholders of record on June 15. The market value per Wallace share-is P63 on May 25, P66 on June 15, and P68 on July 31. The net effect of this property dividend on retained earnings is a reduction of?
Malaki Corporation has an investment in 5,000 shares of Wallace Company ordinary shares with a cost of P218,000. These shares are used in a property dividend to shareholders of Malaki. The property dividend is declared on May 25 and scheduled to be distributed on July 31 to shareholders of record on June 15. The market value per Wallace share-is P63 on May 25, P66 on June 15, and P68 on July 31. The net effect of this property dividend on retained earnings is a reduction of?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 1MC
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Malaki Corporation has an investment in 5,000 shares of Wallace Company ordinary shares with a cost of P218,000. These shares are used in a property dividend to shareholders of Malaki. The property dividend is declared on May 25 and scheduled to be distributed on July 31 to shareholders of record on June 15. The market value per Wallace share-is P63 on May 25, P66 on June 15, and P68 on July 31. The net effect of this property dividend on
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