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Please include entries in connection with property dividend

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    Assignment ID: FG133136057

    Question – Moonstone Company owned 20,000 shares of equity securities of Jade Corporation, with carrying value of P90 per share. On October 31, 2021, Moonstone declared these shares as property dividend to be paid on March 31, 2022.

    The quoted price for Jade Corporation share is P105, on October 31, 2021, P85 on December 31, 2021 and P100 on March 31, 2022. Please include entries in connection with property dividend in accordance with IFRIC 17.

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