Lil Wayne Corporation received dividends from ordinary shares (15% interest) and preference share (25% interest) investment during the current year: A cash dividend of P100,000 from ordinary shares investment. A cash dividend of P50,000 from preference share investment. A stock dividend of 2,000 shares from ordinary shares investment when the market price was P12 per share. A property dividend costing P500,000 which had a market value of P600,000. A liquidating dividend of P5,000 from ordinary investment. How much is the total dividend income that should be reported for the current year?
Lil Wayne Corporation received dividends from ordinary shares (15% interest) and preference share (25% interest) investment during the current year: A cash dividend of P100,000 from ordinary shares investment. A cash dividend of P50,000 from preference share investment. A stock dividend of 2,000 shares from ordinary shares investment when the market price was P12 per share. A property dividend costing P500,000 which had a market value of P600,000. A liquidating dividend of P5,000 from ordinary investment. How much is the total dividend income that should be reported for the current year?
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 5P
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Lil Wayne Corporation received dividends from ordinary shares (15% interest) and preference share (25% interest) investment during the current year:
A cash dividend of P100,000 from ordinary shares investment.
A cash dividend of P50,000 from preference share investment.
A stock dividend of 2,000 shares from ordinary shares investment when the market price was P12 per share.
A property dividend costing P500,000 which had a market value of P600,000.
A liquidating dividend of P5,000 from ordinary investment.
How much is the total dividend income that should be reported for the current year?
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