On July 16, 2021, Habagat Company acquire 1,000 ordinary shares of Ondoy Company at P42 per share plus broker's fees of P900. Ondoy ordinary shares are traded and were primarily held by Habagat for profit taking opportunities. Ondoy declared and issued a stock dividend of one Ondoy preference share for every 10 ordinary shares held. Market values per share of the ordinary and preference are P 40 and P 100, respectively.
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- 6. On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per share. Brokerage fees amounted to P120,000. A P5 dividend per share of Byzantine, Inc. shares had been declared on December 15, 2019, to be paid on March 31, 2020 to shareholders of record on January 31, 2020. The shares are designated as FVTOCI. On December 31, 2020 the investment has a fair value of P4,200,000. How much should be recognized in the 2020 other comprehensive income related to these securities? Group of answer choices P280,000 P200,000 P400,000 P80,000. PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. What amount should be reported as dividend income on the December 31, 2020 income statement? * ₱ 460,000 ₱ 400,000 ₱ 150,000 ₱ 60,000b) East Company issued 1,000 shares with P5 par to Howe as compensation for 1,000 hours of legal services performed. Howe bills P160 per hour for his legal 1,000 hours of legal services performed. Howe bills P160 per hour for hiei 1or services. By what amount should the share premium accoùnt increase as a resule òf the transaction? c) Faela Corporation has the following share capital balances as of December 31, 2020: 12% Cumulative and participating Preference Share Capital, P20 par P 2,500,000 value Ordinary Share Capital, P10 par value 1,500,000 The last dividend paid was in the year 2017. On December 28, 2020, the corporation declared P2,000,000 cash dividend to be paid on January 15, 2021 to shareholders of record December 31, 2020. How much dividend should be distributed to ordinary and preference shareholders, respectively? How much is the cash dividend per preference and ordinary share?
- On 2, 2019, I AM DETERMINED CO. purchased 10,000 shares of CPA CO. at P56 plus broker’s commission of P4 per share. The investment is FVTOCI. During 2018 and 2020, the following events occurred regarding the investment: 12/15/19 CPA CO. declares and pays a P2.20 per share dividend 12/31/19 The market price of CPA CO. stock is P52 per share at year-end 12/01/20 CPA CO. declares and pays a dividend of P2 per share 12/31/20 The market price of CPA CO. stock is P55 per share at year-end The net unrealized loss at December 31, 2020 in accumulated OCI in shareholders' equity isOn June 15, 2021, LABAN Company owns 20,000 shares with a cost of P1,000,000 of GANGDULOCompany’s stocks. During the same period, GANGDULO Company issued stock rights to existingshareholders. LABAN received 20,000 stock rights entitling him to purchase 5,000 new shares at P54. Theordinary share was trading ex-right at P54 a share and the rights had a market value of P6 per right.On July 1, 2021, LABAN exercised all the stock rights. The share is quoted right on at P65.Prepare all the necessary entries assuming the shares are:a. FA at FVPLb. FA at FVOCIPINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. How much is the unrealized gain(loss) that should be presented in the statement of comprehensive income?
- PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. 1. What amount should be reported as dividend income on the December 31, 2020 income statement? a. ₱ 60,000 b. ₱ 150,000 c. ₱ 460,000 d. ₱ 400,000 2. How much is the unrealized gain(loss) that should be presented in the statement of comprehensive income? a. ₱ 250,000 loss b. ₱ 750,000 gain c. ₱ 117,500 gain d. ₱ 32,500 loss 3. What is the carrying value of the above investment on December 31, 2020? a. ₱ 2,817,500 b. ₱ 3,105,000 c. ₱ 2,450,000 d. ₱ 2,700,000PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. What is the carrying value of the above investment on December 31, 2020?PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. What amount should be reported as dividend income on the December 31, 2020 income statement? A. ₱ 460,000 B. ₱ 400,000 C. ₱ 150,000 D. ₱ 60,000
- PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. How much is the unrealized gain(loss) that should be presented in the statement of comprehensive income? * ₱ 250,000 loss ₱ 750,000 gain ₱ 117,500 gainPINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. What amount should be reported as dividend income on the December 31, 2020 income statement?PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per share. PINK received a stock dividend of 15% on March 31, 2020 when the market price of the share is ₱40. On November 30, PINK paid ₱20 per share special assessment on the shares. On December 15, 2020, WHITE paid a cash dividend of ₱8 per share. On December 31, the prevailing market price of the trading security is at ₱49 per share. How much is the unrealized gain(loss) that should be presented in the statement of comprehensive income? A. ₱ 117,500 gain B. ₱ 250,000 loss C. ₱ 750,000 gain D. ₱ 32,500 loss
