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What amount should kate credit to share premium

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Reference no: EM132745133

Problem 1: On June 30, 2020, Kate Corporation's Board of Directors declared a 10% stock dividend. The market price of Kate's 50,000 outstanding shares of P50 par value ordinary share was P110 per share on that date. The stock dividend was distributed on August 15, 2019, when the stock's market price was P150 per share. What amount should Kate credit to share premium for this stock dividend?

a. P750,000

b. P600,000

c. P300,000

d. P550,000

Reference no: EM132745133

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