On October 13,2021, Marcos declared property dividend of equipment payable on March 6, 2022. The carrying amount

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On October 13,2021, Marcos declared property dividend of equipment payable on March 6, 2022. The carrying amount of the equipment is P700,000 and the fair value is P800,000 on October 13,2021

The fair value less cost to dispose the equipment is P1,000,000 on December 30, 2021 and P900,000 on March 6, 2022

What is the dividend payable on December 30, 2021?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Posted Date: Apr 11, 2022 01:38 AM

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On October 13,2021, Marcos declared property dividend of equipment payable on March 6, 2022. The carrying amount

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AS per IAS 27 Property dividends should be recorded at the fair market value of the asset dis... View the full answer

Intermediate Accounting

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