29 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?
29 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?
Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations
Section: Chapter Questions
Problem 23P
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29
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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