BBT Corporation has 10,000 shares of ordinary shares issued and outstanding, P20 par. The board of directors declared a 10% share dividends when the market value of the share was P22 per share. Give the journal entries to record the declaration and the distribution of share dividends.

BBT Corporation has 10,000 shares of ordinary shares issued and outstanding, P20 par. The board of directors declared a 10% share dividends when the market value of the share was P22 per share. Give the journal entries to record the declaration and the distribution of share dividends.

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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Question

2. BBT Corporation has 10,000 shares of ordinary shares issued and
outstanding, P20 par. The board of directors declared a 10% share dividends
when the market value of the share was P22 per share.
Give the journal entries to record the declaration and the distribution of
share dividends.

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