On July 1, 2010, Bettina Company’s board of directors declared a 10% share dividend. The market price of Bettina’s 400,000 outstanding ordinary shares, P50 par value, was P80 per share on the date of...

On July 1, 2010, Bettina Company’s board of directors declared a 10% share dividend. The market price of Bettina’s 400,000 outstanding ordinary shares, P50 par value, was P80 per share on the date of declaration. The share dividend was distributed on September 1, 2010 when the market price of the shares was P100 per share. What amount should be charged to the Accumulated Profits and Losses account as a result of the share dividend? *