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The shareholders' equity section of Hale Co. on December 31, 2018 showed the following: Ordinary share P50 par, 105,000 shares issued                                         P5,250,000 Share Premium on Ordinary shares                                                                1,010,000 Treasury shares [5,000 shares)                                                                          300,000 Accumulated Profits                                                                                        10,000,000 The company declared 20% share dividends on the ordinary share when the market value per share is P130.  How much is the amount credited to Share Premium on Ordinary shares on this transaction?

The shareholders' equity section of Hale Co. on December 31, 2018 showed the following: Ordinary share P50 par, 105,000 shares issued                                         P5,250,000 Share Premium on Ordinary shares                                                                1,010,000 Treasury shares [5,000 shares)                                                                          300,000 Accumulated Profits                                                                                        10,000,000 The company declared 20% share dividends on the ordinary share when the market value per share is P130.  How much is the amount credited to Share Premium on Ordinary shares on this transaction?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The shareholders' equity section of Hale Co. on December 31, 2018 showed the following:

Ordinary share P50 par, 105,000 shares issued                                         P5,250,000

Share Premium on Ordinary shares                                                                1,010,000

Treasury shares [5,000 shares)                                                                          300,000

Accumulated Profits                                                                                        10,000,000

The company declared 20% share dividends on the ordinary share when the market value per share is P130.  How much is the amount credited to Share Premium on Ordinary shares on this transaction?

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