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Question - Assume the following data, Ordinary Share Capital par value P100 50,000 shares issued - P5,000,000
Share Premium - 200,000
Retained Earnings - 3,000,000
Market value of ordinary share on date of declaration - 110
Market value of ordinary share on date of distribution - 115
Please include necessary journal entries on date of declaration, date of record, date of settlement if:
a. A 26% stock dividend is declared on ordinary share
b. A 11% stock dividend is declared on ordinary share
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