The Pallorina Corporation board of directors voted on Nov. 1, 2019, to declare a 45% share dividend, distributable on Dec. 31, to shareholders of record as of Dec. 1. Pallorina's articles autorized the issuance of 200,000 shares of P40 par ordinary shares. As of Nov. 1, 2019, 50,000 ordinary shares are issued and outstanding. The market price of Pallorina stock on Nov. 1 is P85 per share. Required: Prepare the entries needed on the declaration, record and payment dates.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.