he shares had fair value of P110 per share. July 1, 2022, Tan Beda Company purchased additional 16,500 shares of Taint Dude for P1,856,250 plus P10,000 brokers commission. Taint Dude Incorporated declare
On January 1, 2021, Tan Beda Company acquired 10% of the 100,000 outstanding voting shares of Taint Dude Incorporated for P1,000,000. These shares were designated as equity investments at fair value through other comprehensive income. Taint Dude Incorporated declared and paid dividends of P250,000 in 2021 and reported net income of P2,400,000. At the end of 2021, the shares had fair value of P110 per share.
July 1, 2022, Tan Beda Company purchased additional 16,500 shares of Taint Dude for P1,856,250 plus P10,000 brokers commission. Taint Dude Incorporated declared and paid P1,200,000 cash dividends on February 2022 and P2.50 per share dividend in August 2022. While net income reported during 2022 was P4,000,000 with P2,000,000 earned in the first half of the year.
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