Ron Tidball Corp. (RTC) owns 100,000 shares in Scott Austin Ltd. (SAL). RTC distributes its shareholding in SAL by way of a property dividend. Other information follows:
■ The current book value of the SAL shares is $450,000.
■ The market value of the SAL shares is $500,000.
■ The dividend is declared on June 15, 2021, and distributed on June 30, 2021.
■ Scenario 1—SAL has 10,000,000 shares outstanding; the investment is designated as at fair value through profit or loss (IFRS) and is quoted in an active market (ASPE).
■ Scenario 2—SAL has 50,000 shares outstanding. RTC has significant influence over SAL and accounts for the investment using the equity method.
■ Scenario 3—SAL has 15,000 shares outstanding. RTC controls SAL.

Required:
a. For each of the scenarios, prepare the required journal entries to record the declaration and payment of the dividend in kind. Assume that RTC prepares its financial statements in accordance with IFRS.
b. For each of the scenarios, prepare the required journal entries to record the declaration and payment of the dividend in kind. Assume that RTC prepares its financial statements in accordance with ASPE.