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Hybe Corporation is authorized to issue 20,000 shares of P 20 par value ordinary share...

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Accounting

Hybe Corporation is authorized to issue 20,000 shares of P 20 par value ordinary share capital. As of May 15, 2019, it has 5,000 shares of ordinary shares issued and outstanding. It has paid-in capital in excess of par of P 25,000 and retained earnings of P 105,400. The Board of Directors declared a 10% share capital dividend on May 15, 2019. A shareholder who owns 1,000 shares will receive how many shares of share capital dividends?

A. 1000 shares

B. 5,000 shares

C. 500 shares

D. 100 shares

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