property dividend On October 1, 2025, Ajax Corporation declared a property dividend of 2 million shares of Comet Corporation’s preferred stock. •Ajax had purchased the Comet stock for $4.5 per share as an investment in March 2025. •The Comet shares have a fair value of $5 per share on October 1, 2025. •The property dividend is distributed to shareholders on November 1, 2025. Prepare necessary journal entries to account for the declaration and distribution of the property dividend.

Vikrambahi

Additional information: 1. King Bhd acquired ordinary shares, 10% preference shares and 10% debentures of Prince Bhd on 1 July 2018 when the balances of its retained profit, general reserve and asset revaluation reserve are RM60,000, 40,000 and RM20,000 respectively. The balance of ordinary shares, 10% preference shares and 10% debentures on that date are as follows: Unit 200,000 RM 200,000 Ordinary shares 10% Preference shares 10% Debentures 90,000 90,000 90,000 90,000 2. For the purposes of consideration for shares acquired on 1 July 2018, the assets of Prince Bhd were revalued. The land was revalued at RM280,000 and plant & machinery was revalued its' Freehold land at RM400,000. King Bhd and Prince Bhd had not recorded this revaluation but decided to give effect in the consolidated financial statement. King Bhd and Prince Bhd depreciated plant & machinery at 20% using the reducing balance method. tRM10,000 below its' carrying value. King Bhd also revalued 3. 75% of Prince Bhd's…

#16On December 1, 2019, Ceniza corporation received a donation of 3,000 shares of its P50 parvalue ordinary shares from a shareholder. On that date, the share’s market value was 350per share. The stock was originally issued for P250 per share. By what amount would thisdonation cause total shareholder’s equity to decrease? 0 pls provide the correct solution for the given answer

Situation 1 Pharoah Tables acquired 15% of the 4,800,000 shares of common stock of Robot Sofas at a total cost of $7.80 per share on April 1, 2025. On August 8, Robot Sofas declared and paid a $267,000 cash dividend. On December 31, Robot Sofas market price was $8.30 per share and the company reported net income of $625,000 for the year. Situation 2 On January 1, 2025, Coronado Company purchased 40% of Santos Corporation 525,000 outstanding shares of common stock at a total cost of $14 per share. On October 25, Santos declared and paid a cash dividend of $0.40 per share. On December 31, Santos reported a net income of $928,000 for the year and the market price of its common stock was $15 per share. Prepare all necessary journal entries in 2025 for both situations. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries…

Please do not give solution in image format thanku

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