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What amount should Sol credit to share premium

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Question - On May 31, 2008, Sol Company's board of directors declared a 10% stock dividend. The market price of Sol's 30,000 outstanding shares of P20 par value was P90 per share on that date. The stock dividend was distributed on July 31, 2008, when the stock's market price was P100 per share.

Required - What amount should Sol credit to share premium for this stock dividend?

a. P210,000

b. P240,000

c. P270,000

d. P300,000

Reference no: EM132529971

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