1. On October 1, 2016, Boron Company declared a property dividend of machinery payable on April 1, 2017. The carrying amount of the machinery is P4,000,000 on October 1, 2016.

The fair value of the machinery on the relevant dates are as follows: October 1, 2016 P3,800,000 December 31, 2016 3,700,000 April 1, 2017 3,500,000Problem 25 Silicon Company reported the following shareholders' equity on January 1, 2017: Share capital P1,500,000 Share premium 3,000,000 Retained earnings 5,000,000Germanium Company showed the following balances at year-end: Wasting asset 8,000,000 Accumulated depletion 1,000,000 Share capital, P100 par 5,000,000 Capital liquidated 500,000 Retained earnings 1,200,000 The board of directors declared a dividend of P30 per share