L. Tan Med-Care Inc. is a health insurance corporation. The following account balances appear on the statement of financial position of E- Tan Med-Care Inc.: Ordinary Shares (50,000 shares authorized), P10 par P400,000 Share Premium-Ordinary Retained Earnings 42,500 299,500 The board of directors declared a 4% share dividend when the market price of the stock was P15 a share. Determine the followinng amounts BEFORE the share dividend was declared: | 1. Total Share Capital 2. Total Retained Earnings 3. Total Shareholders' Equity

L. Tan Med-Care Inc. is a health insurance corporation. The following account balances appear on the statement of financial position of E- Tan Med-Care Inc.: Ordinary Shares (50,000 shares authorized), P10 par P400,000 Share Premium-Ordinary Retained Earnings 42,500 299,500 The board of directors declared a 4% share dividend when the market price of the stock was P15 a share. Determine the followinng amounts BEFORE the share dividend was declared: | 1. Total Share Capital 2. Total Retained Earnings 3. Total Shareholders' Equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please do the journal entries. Thank you!