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On November 1, 2019, Grande Company declared a property dividend of equipment payable on March 1, 2020. The carrying amount of the equipment is P3,000,000
On November 1, 2019, Grande Company declared a property dividend of equipment payable on March 1, 2020.
The carrying amount of the equipment is P3,000,000 and the fair value is P2,500,000 on November 1, 2019.
However, the fair value less cost to distribute the equipment is P2,200,000 on December 31, 2019 and P2,000,000 on March 1, 2020.
What amount should be reported as dividend payable on December 31, 2019?
A . 2.500,000
B. 2,200,000
C. 3,000,000
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