Reference no: EM132770823
Question - Grande Company declared a property dividend of equipment payable on March 1, 2026.
The carrying amount of the equipment is P3,000,000 and the fair value is P2,5000,000 on November 1, 2025.
However, the fair value less cost to distribute the equipment is P2,200,000 on December 31, 2025 and P2,000,000 on March 1, 2026.
Required -
1. What is the dividend payable on December 31, 20x5?
2. What is the measurement of the equipment on December 31, 20x5?
3. What amount of loss on distribution of property dividend is recognized on March 1, 20x6?
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