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How much is the share premium after issuance of bonus shares

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Reference no: EM132946893

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Q1. ECE Corporation had the following shareholder's accounts before the declaration of dividend.

Ordinary share capital, P5 par (authorized, 500,000 shares) 1,500,000

Share premium 1,560,000

Retained earnings 1,210,000

Market value of the ordinary share on this date is P40 per share. The company declared and distributed 10% share dividend.

How much is the share premium after issuance of bonus shares?

A. P2,340,000

B. P3,915,000

C. P3,240,000

D. P3,024,000

Q2. Guimba Corporation has the following data on stock issued and outstanding on December 31, 2020:

10% Preference share, P10 par 450,000

Ordinary share capital, P10 par 300,000

Retained earnings 450,000

Dividends were in arrears for 2 years, excluding the current year. The Board of Directors declared P300,000 cash dividends. Assume that the preferred share is non-cumulative and participating.

The ordinary dividend per share is?

a. 1

b. 2

c. 4

d. 3

Reference no: EM132946893

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