Upon organization on January 1, 20x2, Optimum Inc. was authorized to issue 200,000 shares of P 10 par ordinary shares in multiples of 100 shares. During 20x2, 110,000 shares were sold at P 65 per share; 6,000 shares were later reacquired as treasury shares at P 72 per share. A share split of 2 for 1 on all issued shares was approved on December 31, 20x2. During 20x3, these dividend and treasury share transactions occurred: April 12 Declared and paid a 10% share dividend on all outstanding shares. Oct 17 All treasury shares were sold at P 81 per share. Dec4 Declared and paid these dividends: P 1 cash dividend per share for ordinary shares outstanding Property dividend of P 1 share of Hershey Co. ordinary shares for each 10 shares of Optimum shares held. The cost of the company for 1 share of Hershey Co. ordinary share was P 25 with a current market value of P 30. 

What are the entries on December 4 pertaining to the cash dividends

Answer rating: 100% (QA)

To record the cash dividends declared and paid on ... View the full answer