of 2. The records of Alamo Corporation showed the following data: Ordinary Share Capital, par P100, authorized 200,000 shares, issued 50,000 shares Share Premium Retained Earnings P5,000,000 230,000 2,300,000 Direction: From the following independent cases, journalize the dividend declaration and the dividend payment: a) The Board of Directors declared a 10% cash dividend. b) The Board of Directors declared a P5 cash dividend. c) The Board of Directors declared a merchandise dividend of P15 per share. d) The Board declared a property dividend of 2 SMB shares for one Alamo share svp shares are selling at P15 but were acquired by Alamo Corporation @ P10. Use PAS 39. SMC shares are considered available for sale securities. e) The Board declared a 22% stock dividend. Stocks are selling at P105 f) The Board declared a 12% stock dividend. Market value of stock is P120, per share.
of 2. The records of Alamo Corporation showed the following data: Ordinary Share Capital, par P100, authorized 200,000 shares, issued 50,000 shares Share Premium Retained Earnings P5,000,000 230,000 2,300,000 Direction: From the following independent cases, journalize the dividend declaration and the dividend payment: a) The Board of Directors declared a 10% cash dividend. b) The Board of Directors declared a P5 cash dividend. c) The Board of Directors declared a merchandise dividend of P15 per share. d) The Board declared a property dividend of 2 SMB shares for one Alamo share svp shares are selling at P15 but were acquired by Alamo Corporation @ P10. Use PAS 39. SMC shares are considered available for sale securities. e) The Board declared a 22% stock dividend. Stocks are selling at P105 f) The Board declared a 12% stock dividend. Market value of stock is P120, per share.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 3SEA
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Question
2. The records of Alamo Corporation showed the following data:
(see attached image for the given. Please answer it. Thank you so much!)
Direction. From the following independent cases, journalize the dividend declaration and the dividend payment:
a) The Board of Directors declared a 10% cash dividend.
b) The Board of Directors declared a P5 cash dividend.
c) The Board of Directors declared a merchandise dividend of P15 per share.
d) The Board declared a property dividend of 2 SMB shares for one Alamo share. SMB shares are selling at P15 but were acquired by Alamo Corporation @ P10. Use PAS 39. SMC shares are considered available for sale securities.
e) The Board declared a 22% stock dividend. Stocks are selling at P105 per share.
f) The Board declared a 12% stock dividend. Market value of stock is P120.
Transcribed Image Text:S as of
Direction From the following independent cases, journalize the dividend declaration
2. The records of Alamo Corporation showed the following data:
Ordinary Share Capital, par P100, authorized
200,000 shares, issued 50,000 shares
Share Premium
Retained Earnings
P5,000,000
230,000
2,300,000
and the dividend payment:
a) The Board of Directors declared a 10% cash dividend.
b) The Board of Directors declared a P5 cash dividend.
c) The Board of Directors declared a merchandise dividend of P15
d) The Board declared a property dividend of 2 SMB shares for one Alamo share sMP
shares are selling at P15 but were acquired by Alamo Corporation @ P10. Use PAS
39. SMC shares are considered available for sale securities.
e) The Board declared a 22% stock dividend. Stocks are selling at P105 per share.
f) The Board declared a 12% stock dividend. Market value of stock is P120.
per
share.
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