Small Share Dividends: The E. Delos Santos, Inc. board of directors voted on June 1, 2019, to declare a 10% shares distributable on July 1, to shareholders of record as of June 15. On June 1, E. Delos Santos has 500,000 shares of P10 par ordinary shares authorized, 55,000 shares are issued and 5,000 shares are held as treasury stock. E. Delos Santos stock is selling for P45 per share on June 1. Required: Prepare the entries needed on the declaration, record and payment dates.
Small Share Dividends: The E. Delos Santos, Inc. board of directors voted on June 1, 2019, to declare a 10% shares distributable on July 1, to shareholders of record as of June 15. On June 1, E. Delos Santos has 500,000 shares of P10 par ordinary shares authorized, 55,000 shares are issued and 5,000 shares are held as
Large Share Dividends: The Pallorina Corporation board of directors voted on Nov. 1, 2019, to declare a 45% share dividend, distributable on Dec. 31, to shareholders of record as of Dec. 1. Pallorina's articles authorize the issuance of 200,000 shares of P40 par ordinary shares As of Nov. 1, 2019, 50,000 ordinary shares are issued and outstanding. The market price of Pallorina stock on Nov. 1 is P85 per share. Required: Prepare the entries needed on the declaration, record and payment dates.
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