Luffy Company declared and distributed 10% stock dividend with fair value of P 1,500,000 and par value of P 1,000,000, and 25% stock dividend with fair value of P 4,000,000 and par value of P 3,500,000. What aggregate amount should be debited to retained earnings for the stock dividends? Show your solution

Luffy Company declared and distributed 10% stock dividend with fair value of P 1,500,000 and par value of P 1,000,000, and 25% stock dividend with fair value of P 4,000,000 and par value of P 3,500,000. What aggregate amount should be debited to retained earnings for the stock dividends? Show your solution

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter15: Dividend Policy

Section: Chapter Questions

Problem 5P

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