Problem 30 Polonium Company showed the following data: Preference share capital, par value P20, 100,000 shares authorized, 50,000 shares issued Ordinary share capital, par value P10, 200,000 shares authorized, 100,000 shares issued Retained earnings Market value of preference share on date of declaration Market value of ordinary share on date of declaration P1,000,000 1,000,000 2,000,000 P30.00 P15.00 Required: For each of the following, prepare journal entries on the date of declaration and date of payment: a) A 10% ordinary stock dividend is declared on ordinary share. b) A 50% ordinary stock dividend is declared on ordinary share. c) A 10% ordinary stock dividend is declared on both ordinary and preference share. d) An ordinary stock dividend is declared whereby each ordinary shareholder shall receive one ordinary share for every five shares held. In view of the ratio of new shares to old shares, it is necessary that fractional share warrants be issued to various shareholders calling for 3,000 shares. Only 90% of the warrants are turned in and the remainder lapsed