Multiple Choice
EI Toro Manufacturing Inc. declared a 20% share dividend when it had 150,000 ordinary shares (€5 par value) outstanding. The market price per share was €8 on the declaration date. The entry to record the dividend declaration included a credit to
A) Share Dividends of €240,000.
B) Share Premium-Ordinary for €210,000.
C) Share Capital-Ordinary for €240,000.
D) Ordinary Share Dividends Distributable €150,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q180: Which of the following statements about retained
Q181: Legal capital per share cannot be equal
Q182: Warren Company had the following transactions.<br>1. Issued
Q183: Which of the following items would increase
Q185: Shannon Manufacturing declared a 10% share dividend
Q187: Kerwin Packaging Corporation began business in 2013
Q188: Prior period adjustments<br>A) may only increase retained
Q188: Sandwick Corporation was organized on January 1,
Q189: Cuther Inc has 1,000 shares of 5%,
Q194: The ability of a corporation to obtain