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How much is charged from Retained Earnings

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Question - On Feb. 1, 2001, a company declared a 10% share dividend for shareholders on record on Feb. 10 and to be distributable on Feb. 29. There were 60,000 issued and 40,000 outstanding ordinary shares with $70 par value. The market price per share was $110 on Feb. 1, $ 115 on Feb. 10, and $ 120 on Feb. 29, 2001. How much is charged from Retained Earnings for the 10% share dividend? How much is recorded as share dividend payable?

Reference no: EM132919525

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