The board of directors of ABC Corporation voted on June 1, 2021 to declare a 10% share distributable on July 1, to shareholders of record as of June 15. On June 1, the corporation has 500,000 shares of P10 par ordinary shares authorized, 55,000 shares are issued, and 5,000 shares are held as treasury stock. The company is selling for P45 per share on June 1.
The board of directors of ABC Corporation voted on June 1, 2021 to declare a 10% share distributable on July 1, to shareholders of record as of June 15. On June 1, the corporation has 500,000 shares of P10 par ordinary shares authorized, 55,000 shares are issued, and 5,000 shares are held as treasury stock. The company is selling for P45 per share on June 1.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Financial Accounting & Reporting: Dividend Distribution
Transcribed Image Text:2. The board of directors of ABC Corporation voted on June 1, 2021 to declare a 10% share
distributable on July 1, to shareholders of record as of June 15. On June 1, the corporation has
500,000 shares of P10 par ordinary shares authorized, 55,000 shares are issued, and 5,000 shares
are held as treasury stock. The company is selling for P45 per share on June 1.
The follouing
for
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