Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share for a lump sum of P480,000. How much of the proceeds would be allocated to the common stock?

(2 Points)

P50,000

P218,182

P255,000

P250,000

On June 1, 2015, Golden Warriors Corporation declared a share capital dividend entitling its shareholders to one additional share for each share held. At the time the dividend was declared, the market value was P 100 per share and the par value was P 50 per share. On this date, Golden had 65,000 shares issued and 5,000 shares in the treasury. What entry should Golden make to record this June 1 transaction?

a. debit Retained earnings-P3,000,000; credit Share Capital DividendDistributable-P3,000,000;

b. debit Retained earnings-P6,500,000; credit Share Capital Dividend Distributable-P3,250,000; credit Paid in Capital from Share Capital Dividends-P3,250,000

c. debit Retained earnings-P3,250,000; credit Share Capital Dividend Distributable-P3,250,000;

d. debit Retained earnings-P6,000,000; credit Share Capital Dividend Distributable-P3,000,000; credit Paid in Capital from Share CapitalDividends-P3,000,000