What amount is deducted/debited to retained earnings account assuming the Board of Directors declared a share dividend from treasury shares for each ten shares outstanding? Group of answer choices 420,000 480,000 300,000 360,000
What amount is deducted/debited to retained earnings account assuming the Board of Directors declared a share dividend from treasury shares for each ten shares outstanding? Group of answer choices 420,000 480,000 300,000 360,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
12.
Use the following information for the next two (2) questions:
Over Company showed the following balances:
Share capital authorized P100 par, 50,000 shares |
5,000,000 |
Share capital unissued, 20,000 shares |
2,000,000 |
Subscribed share capital, 10,000 shares |
1,000,000 |
Treasury shares (5,000 at cost) |
600,000 |
Share premium |
500,000 |
|
1,500,000 |
Market value of shares: |
|
On declaration |
140 |
On issuance date |
150 |
- What amount is deducted/debited to retained earnings account assuming the Board of Directors declared a share dividend from treasury shares for each ten shares outstanding?
Group of answer choices
420,000
480,000
300,000
360,000
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