Milk Tea Company bought 1,000 shares of Macha Corporation as equity investments on January 10, 2022 for P237,300, which include P2,300 as brokerage fee. The investments are classified as equity investments at fair value through profit or loss. On December 28, 2021, a P25 peso dividend per share of Macha Corporation had been declared to be paid on March 31, 2022. There were no other transactions in 2022 affecting the investment. At what amount should Milk Tea Company record the investment in equity securities at January 10, 2022? P235,000 P212,300 P237,300 P210,000
Milk Tea Company bought 1,000 shares of Macha Corporation as equity investments on January 10, 2022 for P237,300, which include P2,300 as brokerage fee. The investments are classified as equity investments at fair value through profit or loss. On December 28, 2021, a P25 peso dividend per share of Macha Corporation had been declared to be paid on March 31, 2022. There were no other transactions in 2022 affecting the investment. At what amount should Milk Tea Company record the investment in equity securities at January 10, 2022? P235,000 P212,300 P237,300 P210,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Milk Tea Company bought 1,000 shares of Macha Corporation as equity investments on January 10, 2022 for P237,300, which include P2,300 as brokerage fee. The investments are classified as equity investments at fair value through profit or loss.
On December 28, 2021, a P25 peso dividend per share of Macha Corporation had been declared to be paid on March 31, 2022. There were no other transactions in 2022 affecting the investment.
At what amount should Milk Tea Company record the investment in equity securities at January 10, 2022?
On December 28, 2021, a P25 peso dividend per share of Macha Corporation had been declared to be paid on March 31, 2022. There were no other transactions in 2022 affecting the investment.
At what amount should Milk Tea Company record the investment in equity securities at January 10, 2022?
P235,000
P212,300
P237,300
P210,000
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