question archive On January 1, 2017, Lanie Limited had £1,000,000 of ordinary shares outstanding that were issued at par
On January 1, 2017, Lanie Limited had £1,000,000 of ordinary shares outstanding that were issued at par
Subject:BusinessPrice: Bought3
On January 1, 2017, Lanie Limited had £1,000,000 of ordinary shares outstanding that were issued at par. It also had retained earnings of £750,000. The company issued 40,000 ordinary shares at par on July 1 and earned net income of £400,000 for the year. Instructions Journalize the declaration of a 15% share dividend on December 10, 2017, for the follow- ing independent assumptions. (a) Par value is £8, and market price is £18. (b) Par value is £5, and market price is £20.
