What aggregate amount should be debited to retained earnings

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Reference no: EM132794630

Question 1: Sushi Company declared and distributed 10% stock dividend with fair value of P3,000,000 and par value of P2,000,000, and 25% stock dividend with fair value of P8,000,000 and par value of P7,000,000. What aggregate amount should be debited to retained earnings for the stock dividends?

Option 1: 9,000,000
Option 2: 11,000,000
Option 3: 10,000,000
Option 4: 7,000,000

Reference no: EM132794630

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