Reference no: EM133188494
Question - At the current year-end, Grey Company issued 3,000 ordinary shares of P100 par value in connection with a share dividend. The market value per share on the date of declaration was P150.
The shareholders' equity accounts immediately before issuance of the share dividend were:
Ordinary share capital P100 par, 50,000 shares authorized, 20,000 shares issued 2,000,000
Share premium 3,000,000
Treasury stock, 8,000 shares (800,000)
Retained earnings 1,500,000
What amount should be reported as retained earnings immediately after the share dividend?
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: At the current year-end, Grey Company issued 3,000 ordinary shares of P100 par value. What amount should be reported as retained earnings
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