Make necessary journal entries on date of declaration

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Reference no: EM133141734

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

Reference no: EM133141734

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