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What is the net charge of the property dividend

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Question - In 2021, Caranglan Co. bought 10,000 shares of San Jose Co. at a cost of P200, 000. On December 1, 2021, Caranglan Co. declared a property dividend of the San Jose Co shares to shareholders of record on February 1, 2022, payable on February 15, 2022. The San Jose Co. shares had the following market value:

December 1, 2021 260,000

December 31, 2021 250,000

February 15, 2022 240,000

Required - What is the net charge of the property dividend against retained earnings during 2021?

Reference no: EM133177686

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