corporation

504 | BUSIL FINUITLIUI ALLVAN NAME: SCORE: SECTION: PROFESSOR: Problem #11 Share Dividends Assume the following data: P5,000,000 Ordinary Shares, P100 par value, 50,000 shares issued 200,000 Share Premium 2,000,000 Retained Earnings 150 Market Value-declaration date 170 Market Value-distribution date Required: For each of the following assumptions, prepare entries on the date of declaration and date of payment: 1. A 20% share dividends is declared on ordinary shares. 2. A 10% share dividends is declared on ordinary shares