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The equity accounts of Lawrence Group have the following balances on December 31, 2019. Share Capital-Ordinary, 10 par, 200,000 shares

Question:

The equity accounts of Lawrence Group have the following balances on December 31, 2019.
Share Capital-Ordinary, €10 par, 200,000 shares issued and outstanding...........€2,000,000
Share Premium-Ordinary.....................................................................1,200,000
Retained Earnings..............................................................................5,600,000
Shares of Lawrence Group are currently selling at €37.
Instructions
Prepare the appropriate journal entries for each of the following cases.
a. A share dividend of 5% is declared and issued.
b. A share dividend of 100% is declared and issued.
c. A 2-for-1 share split is declared and issued.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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Related Book For  answer-question
Intermediate Accounting IFRS

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Details
Chapter # 15- Equity
Section: Exercises
Problem: 14
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Question Posted: November 23, 2017 09:11:34
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