14. LASAY Company received dividends from its investments in ordinary shares during the year 2013 as follows: A share dividend of 20,000 shares from A Company when the market price of A's shares was P30 per share. A cash dividend of P2,000,000 from B Company in which Lasam owns a 20% interest. A cash dividend of P1,500,000 from C Company in which Lasam owns a 10% interest. 10,000 ordinary shares of D Company in lieu of cash dividend of P20 per share. The market price of D Company's shares was P180. Lasam holds originally 100,000 ordinary shares of D Company. LASAY owns 5% interest in D Company. A liquidating dividend of P2,000,000 from E Company. LASAY owns a 5% interest in E Company. A dividend in kind of one ordinary share of X Company for every 5 ordinary shares of F Company held. LASAY holds 200,000 F Company shares which have a market price of P50 per share. The market price of X Company's ordinary share is P30 per share. What amount of dividend income should LASAY report in its 2013 income statement?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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14. LASAY Company received dividends from its investments in ordinary shares during the year 2013 as
follows:
A share dividend of 20,000 shares from A Company when the market price of A's shares was P30 per
share.
A cash dividend of P2,000,000 from B Company in which Lasam owns a 20% interest.
A cash dividend of P1,500,000 from C Company in which Lasam owns a 10% interest.
10,000 ordinary shares of D Company in lieu of cash dividend of P20 per share. The market price of D
Company's shares was P180. Lasam holds originally 100,000 ordinary shares of D Company. LASAY
owns 5% interest in D Company.
A liquidating dividend of P2,000,000 from E Company. LASAY owns a 5% interest in E Company.
A dividend in kind of one ordinary share of X Company for every 5 ordinary shares of F Company held.
LASAY holds 200,000 F Company shares which have a market price of P50 per share. The market price
of X Company's ordinary share is P30 per share.
What amount of dividend income should LASAY report in its 2013 income statement?
Transcribed Image Text:14. LASAY Company received dividends from its investments in ordinary shares during the year 2013 as follows: A share dividend of 20,000 shares from A Company when the market price of A's shares was P30 per share. A cash dividend of P2,000,000 from B Company in which Lasam owns a 20% interest. A cash dividend of P1,500,000 from C Company in which Lasam owns a 10% interest. 10,000 ordinary shares of D Company in lieu of cash dividend of P20 per share. The market price of D Company's shares was P180. Lasam holds originally 100,000 ordinary shares of D Company. LASAY owns 5% interest in D Company. A liquidating dividend of P2,000,000 from E Company. LASAY owns a 5% interest in E Company. A dividend in kind of one ordinary share of X Company for every 5 ordinary shares of F Company held. LASAY holds 200,000 F Company shares which have a market price of P50 per share. The market price of X Company's ordinary share is P30 per share. What amount of dividend income should LASAY report in its 2013 income statement?
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