A corporation declared a 40% share capital dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. How much was debited to Retained Earnings on the date of declaration?
A corporation declared a 40% share capital dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. How much was debited to Retained Earnings on the date of declaration?
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3RE
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A corporation declared a 40% share capital dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. How much was debited to
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