5. On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther Corporation stocks at P40 per share. Esther Corp. had a total of 62,500 shares outstanding on the same date. Esther Corp. declared total dividends of P20,000 to shareholders on December 20, 2021 and reported a net income of P150,000 for 2021. What is the amount of dividend income to be presented in profit or loss for the year ended December 31, 2021?
5. On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther Corporation stocks at P40 per share. Esther Corp. had a total of 62,500 shares outstanding on the same date. Esther Corp. declared total dividends of P20,000 to shareholders on December 20, 2021 and reported a net income of P150,000 for 2021. What is the amount of dividend income to be presented in profit or loss for the year ended December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:5. On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther
Corporation stocks at P40 per share. Esther Corp. had a total of 62,500 shares outstanding on the same
date. Esther Corp. declared total dividends of P20,000 to shareholders on December 20, 2021 and
reported a net income of P150,000 for 2021. What is the amount of dividend income to be presented in
profit or loss for the year ended December 31, 2021?
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