Jake Company owns 20,000 shares of XYZ Corporation, representing 10% ownership. Jake received a share dividend of 2,000 on September 1, 2020, when the carrying value per on XYZ Corporation's books was P30 per share, and the market price is P33 per share. XYZ Corporation paid a cash dividend of P10 per share on October 31, 2020, declared on September 30, 2020, of record October 15, 2020.   Requirement: 1. How much is the dividend income at the end of 2020?

Q: 5. On June 1, 2020, Ping Corp. purchased 10,000 of Pong’s 50,000 outstanding shares at a price of…

A: solution given Date of purchase of share June 1 2020 Number of total share of pong 50000…

Q: On June 15, 2021, LABAN Company owns 20,000 shares with a cost of P1,000,000 of GANGDULO Company’s…

A: On 15.06.2021, LABAN company owns shares of GANGDULO company = 20000 shares Cost of purchase =…

Q: On December 31, 2020, Lea Company, an entity with no subsidiary, purchased 10,000 ordinary shares of…

A: Total outstanding shares of Sun Valley = Total outstanding shares before purchase of shares by Lea…

Q: Handley Ltd. acquired 42% of the common shares of Lecce Ltd. on January 1, 2024, by paying $5.68…

A: Financial statement:The financial statement is the statement or the record that is prepared by the…

Q: Required: 1. Prepare all appropriate journal entries related to the investment during 2024. Note: If…

A: The company can invest in shares of another company and it is generally accounted for using equity…

Q: Jake Company owns 20,000 shares of XYZ Corporation, representing 10% ownership. Jake received a…

A: Journal is the process of recording accounting transaction of an organisation.

Q: 0,000 shares f

A: Introduction Capital Gain on Shares: It is possible to realist a capital gain on the appreciation…

Q: On October 1, 2021, SIKAP Corporation owns 10,000 FVOCI shares acquired at a cost of P120,000. The…

A: a) calculation of dividend income - SIKAP owns 10000 FVOCI shares which represent 10% of the total…

Q: Rome Inc. acquired 50,000 ordinary shares of Egypt Company at P120 per share. On February 14, 2020,…

A: Shareholder means the owner of the company who is holding share in its name. Right share means where…

Q: vidends of $ 50,000. Assuming Ryan uses the equity method, at December 31. Gosling reported net…

A: Lets understand the basics.When one entity has 20%-50% holding of another entity then both are known…

Q: On January 1, 2021, Eoeo Company acquired 16,000 shares of Fofo Corporation for P1,500,000.…

A: When the company intents to keep the investment for a short period and has the intension to sell the…

Q: Toy Co Corporation purchased 282,000 of the 940,000 common shares of Abacus Ltd. on October 1, 2021,…

A: The Significant influence refers to the opportunity to participate in the formulation of an entity's…

Q: n January 2, 2020, Gamu Company purchased as a long term investment 10,000 ordinary shares of llagan…

A: Solution: Cost of investment = 10000*P70 = P700,000 Sale value of investment = 10000*P100 =…

Q: On January 2, 2019, SurfCity Co. purchased 15,000 shares of Topsail, Inc. for $20 per share. The…

A: Unrealized gain or loss represents the change in the market value of the investment. For equity…

Q: On January 1, 2021, Sampson Co. purchased 100,000, representing 10% of Fraser's outstanding shares.…

A:

Q: Potsaid Company acquired 30% of the outstanding common stock of Buyuk Inc. on December 31, 2025. The…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: North Land Company acquired 30,000 shares of the ordinary share of Shaver Corp. in July 2021. This…

A: As per the business combination standard in IFRS, the dividend income of the company that has…

Q: How much is the unrealized gain(loss) that should be presented in the statement of comprehensive…

A: The PINK Company purchased 50,000 shares (5% ownership) of another Company on January 2, 2020. PINK…

Q: What amount of unrealized gain should Sisig Corp. report in its December 31, 2020 Statement of…

A: Unrealized gain is the gain which has been earned by the company when the investment is measured at…

Q: PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per…

A: Investments: An investment is considered an asset. It is an amount invested by the investor in PPE…

Q: Gangnamn Inc owns 50% of Ps

A: An income statement is one of the financial statements which have to be prepared by the company at…

Q: On January 5, 2020, Swat Company declared a 15% share dividend. The market price of the entity’s…

A: Share dividend is a method of capitalizing the retained earning. Under this, no profit is…

Q: ABC Company acquired 30,000 shares out of XYZ Company's 100,000 outstanding share on January 1,2020…

A: When one company purchases the shares of another company then the profit and loss earned by the…

Q: On January 1, 2020, PQR Company purchased 40,000 shares of Frank, Inc. at P100 per share. The…

A: Initial measurement of the investment will be purchase cost of investment & expenses related…

Q: In January 2021, Tawatinaw Group paid $650,000 for 60,000 shares of Neerlandia Inc. giving Tawatinaw…

A: given   In January 2021, Tawatinaw Group paid $650,000 for 60,000 shares of Neerlandia Inc., giving…

Q: Waterway Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December…

A: Cash dividend=Number of shares×Per share dividend=46,800×$0.90=$42,120

Q: On January 1, 2018, Any Company paid P18,000,000 for 50,000 ordinary shares of Josh Company which…

A: Solution: Investment balance on Dec 31, 2018 = cash paid for investment + share in net income -…

Q: he equipment has a remaining useful life as of 4 years from January 1, 2021. ABC Co. elects to…

A: Step 1 Consolidated financial statements are the "financial statements of a group in which the…

Q: On January 1, 2019, Matcha Company purchased 25% of the outstanding ordinary shares of Milk Tea…

A:

Q: In 2019, ABC Co. bonght 10,000 shares of XYZ Co. for P230,000. On September 1, 2019, ABC Co.…

A: The stock dividend is a method of capitalizing the retained earnings account. It is distributed for…

Q: Fill in the blanks: On January 1, 2020 Iskrambol Company purchased 20% of Ice Buko Company's…

A: The question is related to Investment in Associates. Required 1. Investment Income 2020 2. The…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.