On March 1, 2019, the board of directors of Efraim Corporation declared dividend to shareholders of record as of March 15, 2019, for distribution on April 1, 2019 The fair value per share on declaration date is P120 The shareholders' equity on March 1, 2019 is as follows Share capital, P100 par Subscribed share capital Share premium Retained earnings Treasury shares (at cost of P150 per share) 900,000 250,000 170,000 345,000 150,000 Required Prepare the necessary entries on the date of declaration and distribution under the following independent cases a cash dividend a P25 per share b share dividend of 1 share for every 10 shares held

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On March 1, 2019, the board of directors of Efraim Corporation declared dividend to shareholders of record as of March 15, 2019, for distribution on April 1, 2019  The fair value per share on declaration date is P120  The shareholders' equity on March 1, 2019 is as follows  Share capital, P100 par Subscribed share capital Share premium Retained earnings Treasury shares (at cost of P150 per share) 900,000 250,000 170,000 345,000 150,000 Required  Prepare the necessary entries on the date of declaration and distribution under the following independent cases  a  cash dividend a P25 per share b  share dividend of 1 share for every 10 shares held

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On March 1, 2019, the board of directors of Efraim Corporation declared dividend to shareholders of record as of March 15, 2019, for distribution on

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