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Question 1 - A company's board of directors' votes to declare a cash dividend of P080 per share. The company has 15,000 shares authorized, 10,000 issued, and 9,600 shares outstanding. Determine the total amount of the cash dividend?
Question 2 - Candace Co. owned 40,000 common shares of Kate Corp. purchased in 2019 for P540300. On Dctdber 25, 2022, Candace Co. declared a property dividend of 1 share of Kate Corp. for every 5 shares of Candace Co. share held by a shareholder. On that date, there were 60,000 ordinary shares of Candace Co. outstanding, and the market value of Kate Corp. shares was P25 per share. Make the entry to record the declaration of the property dividend would include a credit to Retained Earnings?
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