ich dividend when deciared does not create liability? O Cash dividend O Share dividend O Scrip dividend O Property dividend
ich dividend when deciared does not create liability? O Cash dividend O Share dividend O Scrip dividend O Property dividend
Chapter20: Corporations And Partnerships
Section: Chapter Questions
Problem 5CPA
Related questions
Question
Transcribed Image Text:Which dividend when declared does
not create liability?
Cash dividend
Share dividend
Scrip dividend
O Property dividend
ARMIN and MIKASA formed a new
partnership. ARMIN invested
P525,000 in cash for her 60% interest
in the capital and profits of the
business. MIKASA contributes land
that has an original cost of P70,000
and a fair market value of P122,500,
and a building that has a tax basis of
P87,500 and a fair market value of
P157,500. The building is subject to a
P70,000 mortgage that the
partnership will assume. What amount
of cash should MIKASA contribute?
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