On December 1, 2021, CAF Corporation declared equipment as a property dividend payable on January 15, 2021. The carrying amount of the equipment is P350,000, which approximates its fair value. The fair values of the equipment on December 31, 2021, and January 15, 2022 are P400,000 and P390,000, respectively. What is the balance of property dividends payable on December 31, 2021?
On December 1, 2021, CAF Corporation declared equipment as a property dividend payable on January 15, 2021. The carrying amount of the equipment is P350,000, which approximates its fair value. The fair values of the equipment on December 31, 2021, and January 15, 2022 are P400,000 and P390,000, respectively. What is the balance of property dividends payable on December 31, 2021?
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 15DQ
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On December 1, 2021, CAF Corporation declared equipment as a property dividend payable on January 15, 2021. The carrying amount of the equipment is P350,000, which approximates its fair value. The fair values of the equipment on December 31, 2021, and January 15, 2022 are P400,000 and P390,000, respectively. What is the balance of property dividends payable on December 31, 2021?
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