9. On November 1, 2015, CPAR Company declared inventory as property dividend payable of February 15, 2016. The carrying amount of the inventory is P700, 000. Data relating to the fair values of the...

Topic is on Shareholders' Equity.. Pls help me with number 9 and 10.

Extracted text: 9. On November 1, 2015, CPAR Company declared inventory as property dividend payable of February 15, 2016. The carrying amount of the inventory is P700, 000. Data relating to the fair values of the inventory follow: FV (assume these are not materially different with the net realizable values) Date 1-Nov-15 12/31/2015 2/15/2016 P600,000 P800,000 P780,000 Requirement: Prepare the journal entries 10. On November 1, 2015, CPAR Company declared equipment as property dividend payable of February 15, 2016. The carrying amount of the inventory is P700, 000. Data relating to the fair values of the inventory follow: FV (assume that the costs to distribute are immaterial) Date 1-Nov-15 12/31/2015 2/15/2016 P600,000 P800,000 P780,000 Requirement: Prepare the journal entries