Dahlia Company has 35,000 ordinary shares of Amelie Corporation as an investment in equity securities through other comprehensive income. These shares were acquired at fair value, which was P43 per share on July 1, 2019. On December 31, 2019, the market value of these shares is P50 per share. Dahlia Company sold 15,000 shares of its investment in Amelie Corporation on January 28, 2020 for P60 per share. What amount of realized gain should Dahlia Company recognize in selling these shares? * Your answer

Dahlia Company has 35,000 ordinary shares of Amelie Corporation as an investment in equity securities through other comprehensive income. These shares were acquired at fair value, which was P43 per share on July 1, 2019. On December 31, 2019, the market value of these shares is P50 per share. Dahlia Company sold 15,000 shares of its investment in Amelie Corporation on January 28, 2020 for P60 per share. What amount of realized gain should Dahlia Company recognize in selling these shares? * Your answer

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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