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Compute the amount of dividends at the date of declaration

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Question - Grace Company, a real estate developer, is owned by five (5) founding shareholders. On December 1, 2022, the company declared a Property Dividend of a one-bedroom condominium unit for each shareholder. The property dividend is payable on January 31, 2023. The carrying amount of a one-bedroom condominium unit is P4,000,000 and the fair value is P5,000,000 on December 1, 2022. Compute the amount of Dividends at the Date of Declaration.

Reference no: EM133103895

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