Question: 43. Power Corporation declared a property dividend of 10 meralco shares for one power share held. Power share has a par value of 50 and

43. Power Corporation declared a property dividend of 10 meralco shares

43. Power Corporation declared a property dividend of 10 meralco shares for one power share held. Power share has a par value of 50 and market value of 100. The meralco shares were originally purchase at 10 per shares. Its fair market value on declaration date was P20 and on distribution date was 25 dividends should be recorded at a. 25 b. 100 c. 10 d. 20

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