98. L
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:98. Long Company had 10,000 shares
issued and outstanding on January
1,2013. On March 15, the entity
declared a 2 for 1 share split when the
fair value of share was P80. On
December 15, the entity declared a P5
per share cash dividend. What
amount should be reported as
dividends? *
O A. 50,000
O B. 100,000
C. 850,000
O D. 950,000
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