In 20A, Angelu company bought 10,000 shares of Eloisa company at a cost of P360,000. On December 1, 20A, Angelu company declared a property dividend of the Eloisa company shares to shareholders of record on February 1, 20B, payable on February 15, 20B. Eloisa company shares had the following market value: December 1, 20A 450,000 December 31, 20A 468,000 February 15, 20B 432,000 What is the net charge of the property dividend against retained earnings during 20A? 468,000 pls provide correct solution for the given answer
In 20A, Angelu company bought 10,000 shares of Eloisa company at a cost of P360,000. On December 1, 20A, Angelu company declared a property dividend of the Eloisa company shares to shareholders of record on February 1, 20B, payable on February 15, 20B. Eloisa company shares had the following market value: December 1, 20A 450,000 December 31, 20A 468,000 February 15, 20B 432,000 What is the net charge of the property dividend against retained earnings during 20A? 468,000 pls provide correct solution for the given answer
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter13: Corporations: Earning & Profits And Distributions
Section: Chapter Questions
Problem 2BCRQ
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#20
In 20A, Angelu company bought 10,000 shares of Eloisa company at a cost of P360,000. On December 1,
20A, Angelu company declared a property dividend of the Eloisa company shares to shareholders of
record on February 1, 20B, payable on February 15, 20B. Eloisa company shares had the following
market value:
December 1, 20A 450,000
December 31, 20A 468,000
February 15, 20B 432,000
What is the net charge of the property dividend against
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