Sandy Company owns 15,000 of the 100,000 ordinary shares of X Corporation. The investment is accounted as Financial Assets at Fair Value Through Profit or Loss (FA-FV-P/L) and has a carrying value of P3,300,000. X Corporation declared a 10% stock dividend but gave the investors the option to receive P210 per whole stock of dividend. How much cash will Sandy receive? In your solutions, show the journal entry to record the dividends if Sandy opted to receive cash. *

Sandy Company owns 15,000 of the 100,000 ordinary shares of X Corporation. The investment is accounted as Financial Assets at Fair Value Through Profit or Loss (FA-FV-P/L) and has a carrying value of P3,300,000. X Corporation declared a 10% stock dividend but gave the investors the option to receive P210 per whole stock of dividend. How much cash will Sandy receive? In your solutions, show the journal entry to record the dividends if Sandy opted to receive cash. *

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter23: Corporate Restructuring

Section: Chapter Questions

Problem 12P

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