Activity 1. The records of JKK Corporation showed the following data: Ordinary Share Capital, par $100, authorized 200,000 shares. issued 50,000 shares $5,000,000 Share Premium 230,000 Retained Earnings 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 $5 cash dividend. c) The Board of Directors declared a merchandise dividend of $15 per share. d) The Board declared a property dividend of 2 SMB shares for one Alamo share. SMB shares are selling at $ l5 but were acquired by Alamo Corporation @ $10. Use PAS 39. SMC shares are considered available for sale securities. e) The Board declared a 22% stock dividend. Stocks are selling at $105 per share. f) The Board declared a 12% stock dividend. Market value of stock is $120.