A corporation declared a 40% share capital dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. How much was debited to Retained Earnings on the date of...

Answer question no. 10 only and provide a solution

Extracted text: A corporation declared a 40% share capital dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. How much was debited to Retained Earnings on the date of declaration? 8. P 24,000 P480,000 P 720,000 d. P1,200,000 a. с. b. 9. Using the information in No. 8, the peso dividend per ordinary share is a. P 8 C. P40 b. P20 d. P50 10. Using the information in No. 8 and assuming the share capital dividend declared is 4/40, the amount of Paid-in Capital from Stock Dividend is? P300,000 d. P480,000 P120,000 P180,000 a. с. b.