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Determine the share capital-ordinary

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Question - On August 1, 2020, the board of directors of Prettiness Inc. declared a 15% share dividend on ordinary shares, to be distributed on September 15th. The market price of Prettiness' ordinary shares was P35 on August 1, 2020, and P38 on September 15, 2020. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this share dividend?

On June 30, 2020, when Cuteness Inc. stock was selling at P65 per share, its equity accounts were as follows:

Share capital-ordinary (par value P50; 60,000 shares issued) P3,000,000

Share premium-ordinary 600,000

Retained earnings 4,200,000

If a 100% share dividend were declared and distributed, share capital-ordinary would be

a. No answer text provided.

b. P7,800,000

c. P3,000,000

d. P6,000,000

Reference no: EM132947184

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