13. Krystian Company acquired 20,000 ordinary shares of Hina Company on October 1, 2017, at accost of P4,400,000. On April 1, 2018, Hina distributed a 10% stock dividend when the market price of the share was P300. On December 30, 2018, Krystian sold 2,000 shares for P640,000. For the year ended December 31, 2018, how much should Krystian report as gain on sale?
13. Krystian Company acquired 20,000 ordinary shares of Hina Company on October 1, 2017, at accost of P4,400,000. On April 1, 2018, Hina distributed a 10% stock dividend when the market price of the share was P300. On December 30, 2018, Krystian sold 2,000 shares for P640,000. For the year ended December 31, 2018, how much should Krystian report as gain on sale?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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13. Krystian Company acquired 20,000 ordinary shares of Hina Company on October 1, 2017, at accost of P4,400,000. On April 1, 2018, Hina distributed a 10% stock dividend when the market price of the share was P300. On December 30, 2018, Krystian sold 2,000 shares for P640,000.
For the year ended December 31, 2018, how much should Krystian report as gain on sale?
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