Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared P0.80 dividend per share. How much should Platinum report as dividend income? P112,000 P56,000 P240,000 P48,000
Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared P0.80 dividend per share. How much should Platinum report as dividend income? P112,000 P56,000 P240,000 P48,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 23EB: Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000...
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Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared P0.80 dividend per share. How much should Platinum report as dividend income?
P112,000 |
P56,000 |
P240,000 |
P48,000 |
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