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Tsen, Ltd. transferred to shareholders some of its investments (held-for-trading) in securities costing HK$1,250,000 (purchased on June 1, 2021) by declaring a property dividend on
Tsen, Ltd. transferred to shareholders some of its investments (held-for-trading) in securities costing HK$1,250,000 (purchased on June 1, 2021) by declaring a property dividend on December 28, 2021, to be distributed on January 30, 2022, to shareholders of record on January 15, 2022. At the date of declaration the securities have a fair value of HK$2,000,000. Tsen makes the following entries.
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