Question: 7/7 Question Five (20 Marks) (5marks each) The equity accounts of LOTO Group have the following balances on December 31, 2010. Share Capital - Ordinary,

7/7 Question Five (20 Marks) (5marks each) The equity accounts of LOTO Group have the following balances on December 31, 2010. Share Capital - Ordinary, $10 par, 500,000 shares issued and outstanding $5,000,000 Share Premium-Ordinary 4,200,000 Retained Earnings 10,600,000 Shares of LOTO Group are currently selling at $50. Instructions Prepare the appropriate journal entries for each of the following cases. 1. A share dividend of 5% is declared and issued. 2. A share dividend of 10% is declared and issued. 3. A share dividend of 20% is declared and issued. 4. A share dividend of 100% is declared and issued

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