This subject is Intermedite Accounting

SUNNY COMPANY Sunny Company owns 6,400 shares of Cloudy Company's ordinary shares at a cost of P80 per share. Cloudy Company which has 40,000 shares of P50 par value common stock, declared and issued a 25% stock dividend on December 20, 2013 to be distributed on January 18, 2014. The fair value of the share was P90 per share right after the declaration of share dividends