3. Guess Corporation purchased 50,000 ordinary shares on January 2, 2019 to be held for trading. Guess received a share dividend of 15% on March 31, 2019 when the market price of the share is P40. On December 31, 2019, Guess paid a cash dividend of P8 per share. On December 31, 2019 Income Statement of Guess Corporation, what amount should be reported as Dividend Income?

3. Guess Corporation purchased 50,000 ordinary shares on January 2, 2019 to be held for trading. Guess received a share dividend of 15% on March 31, 2019 when the market price of the share is P40. On December 31, 2019, Guess paid a cash dividend of P8 per share. On December 31, 2019 Income Statement of Guess Corporation, what amount should be reported as Dividend Income?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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