Jocelyn Company received dividends from its ordinary share investments during the year 2023 as follows: * A stock dividend of 10,000 shares from Volvo Company when the market price of Volvo’s shares was P10 per share. * A cash dividend of P1,500,000 from Opel Company ordinary shares in which Jocelyn owns a 20% interest. * 5,000 shares of ordinary shares of Astra Company in lieu of cash dividend of P20 per share. The market price of Astra Company’s shares was P150. Jocelyn holds originally 50,000 shares of Astra Company ordinary shares. Jocelyn owns 5% interest in Astra Company. What amount of dividend revenue should Jocelyn report in its 2023 income statement?
Jocelyn Company received dividends from its ordinary share investments during the year 2023 as follows: * A stock dividend of 10,000 shares from Volvo Company when the market price of Volvo’s shares was P10 per share. * A cash dividend of P1,500,000 from Opel Company ordinary shares in which Jocelyn owns a 20% interest. * 5,000 shares of ordinary shares of Astra Company in lieu of cash dividend of P20 per share. The market price of Astra Company’s shares was P150. Jocelyn holds originally 50,000 shares of Astra Company ordinary shares. Jocelyn owns 5% interest in Astra Company. What amount of dividend revenue should Jocelyn report in its 2023 income statement?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jocelyn Company received dividends from its ordinary share investments during the year 2023 as follows:
* A stock dividend of 10,000 shares from Volvo Company when the market price of Volvo’s shares was P10 per share.
* A cash dividend of P1,500,000 from Opel Company ordinary shares in which Jocelyn owns a 20% interest.
* 5,000 shares of ordinary shares of Astra Company in lieu of cash dividend of P20 per share. The market price of Astra Company’s shares was P150. Jocelyn holds originally 50,000 shares of Astra Company ordinary shares. Jocelyn owns 5% interest in Astra Company.
What amount of dividend revenue should Jocelyn report in its 2023 income statement?
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