Analyze nestle csr initiative plan focuses on society issues
This is a CSR project, and choose to nestle as our company Note: Please give answer on mentioned words (must add intext citation) and required
Question – As a result of an agreement with bondholders, Malice Company is required to appropriate earnings of P200,000 at the end of each calendar year for the years 2016-2020.
At the beginning of 2021, upon liquidation of the bonded indebtedness of P1,000,000, the retained earnings appropriation is canceled.
This is followed by the declaration and the issue of a 30% share dividend on 250,000 outstanding shares with P10 par value. The market value is P15 per share.
Required – Prepare all indicated entries for the annual appropriation of retained earnings, payment of bonds payable, cancellation of appropriation and issuance of share dividend.