On January 1, 2021, AB Company purchased 15,000 shares of C Inc. for P25 per share. A total of P15,000 was incurred in relation to acquisition of these shares. These shares were acquired for short term fluctuation in profit. On July 31, 2021, 5,000 of these shares were sold at P30 per share. On October 31, 2021, a P4 per share dividend was declared to be distributed on January 31, 2022. And the remaining shares were quoted at P28 per share on December 31, 2021. How much is the total net amount reported in its profit or loss for the period ending December 31, 2021?
On January 1, 2021, AB Company purchased 15,000 shares of C Inc. for P25 per share. A total of P15,000 was incurred in relation to acquisition of these shares. These shares were acquired for short term fluctuation in profit. On July 31, 2021, 5,000 of these shares were sold at P30 per share. On October 31, 2021, a P4 per share dividend was declared to be distributed on January 31, 2022. And the remaining shares were quoted at P28 per share on December 31, 2021. How much is the total net amount reported in its profit or loss for the period ending December 31, 2021?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 14RE
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On January 1, 2021, AB Company purchased 15,000 shares of C Inc. for P25 per share. A total of P15,000 was incurred in relation to acquisition of these shares. These shares were acquired for short term fluctuation in profit. On July 31, 2021, 5,000 of these shares were sold at P30 per share. On October 31, 2021, a P4 per share dividend was declared to be distributed on January 31, 2022. And the remaining shares were quoted at P28 per share on December 31, 2021. How much is the total net amount reported in its profit or loss for the period ending December 31, 2021?
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