During 2019, Don Co. purchased 9,000 ordinary shares of Pia Co. for P16 per share, 6,000 ordinary shares of Ron Co. for P33 per share and P120,000 of treasury notes at 101. These investments are intended to be held as ready sources of cash and are classified as held for trading. Also in 2019, Don purchased 10,500 ordinary shares of Zen Co. for P29 per share. The securities are classified as available for sale. During 2019, Don received the following interest and dividend payment on its investments: Pia Co. P1 per share dividend Ron Co. P3 per share dividend Zen Co. P2 per share dividend Treasury notes 6% annual interest earned for 6 months Fair values of the securities at December 31, 2019, were as follows: Pia Co. P20 per share Ron Co. P22 per share Zen Co. P26 per share Treasury notes 102 On March 23, 2020, the 6,000 ordinary shares of Ron were sold for P17 per share. On June 30, 2020 the treasury notes were sold 100.5 plus accrued interest. Fair values of remaining securities at December 31, 2020, are as follows: Pia Co. P10 per share Zen co. P33 per share Based on the above and the result of your audit, determine the following: Total dividend income in 2019 and carrying amount of Trading Securities as of December 31, 2019, respectively.
During 2019, Don Co. purchased 9,000 ordinary shares of Pia Co. for P16 per share, 6,000 ordinary shares of Ron Co. for P33 per share and P120,000 of treasury notes at 101. These investments are intended to be held as ready sources of cash and are classified as held for trading.
Also in 2019, Don purchased 10,500 ordinary shares of Zen Co. for P29 per share. The securities are classified as available for sale.
During 2019, Don received the following interest and dividend payment on its investments:
Pia Co. P1 per share dividend
Ron Co. P3 per share dividend
Zen Co. P2 per share dividend
Treasury notes 6% annual interest earned for 6 months
Fair values of the securities at December 31, 2019, were as follows:
Pia Co. P20 per share
Ron Co. P22 per share
Zen Co. P26 per share
Treasury notes 102
On March 23, 2020, the 6,000 ordinary shares of Ron were sold for P17 per share. On June 30, 2020 the treasury notes were sold 100.5 plus accrued interest.
Fair values of remaining securities at December 31, 2020, are as follows:
Pia Co. P10 per share
Zen co. P33 per share
Based on the above and the result of your audit, determine the following:
Total dividend income in 2019 and carrying amount of Trading Securities as of December 31, 2019, respectively.
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