Myers Company provides you with the following condensed statement of financial position information. Instructions For each transaction

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Myers Company provides you with the following condensed statement of financial position information.

Myers Company provides you with the following condensed statemen

Instructions
For each transaction below, indicate the euro impact (if any) on the following five items:
(1) Total assets,
(2) Share capital€”ordinary
(3) Share premium€”ordinary
(4) Retained earnings
(5) Equity. (Each situation is independent.)
(a) Myers declares and pays a ‚¬1 per share cash dividend.
(b)
Myers declares and issues a 10% share dividend when the market price is ‚¬14 per share.
(c) Myers declares and issues a 30% share dividend when the market price is ‚¬15 per share.
(d) Myers declares and distributes a property dividend. Myers gives one ABC share for every two shares held of Myers Company. ABC is selling for ‚¬10 per share on the date the property dividend is declared.
(e) Myers declares a 2-for-1 share split and issues newshares.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0470616314

IFRS edition volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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