Question
On April 8, 2019, GODLY Corporation declared and issued a 25% ordinary share capital dividend. Prior to this date, GODLY had 20,000 issued and outstanding
On April 8, 2019, GODLY Corporation declared and issued a 25% ordinary share capital dividend. Prior to this date, GODLY had 20,000 issued and outstanding shares of 2 par value ordinary shares. The carrying value of each share is 20 at the time of declaration of dividend. As a result of the share capital dividend, how much will be debited to retained earnings?
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Federal Tax Accounting 2022
Authors: Frank L. Brunetti
1st Edition
080805631X, 9780808056317
