On April 1, 2023, Dark Company purchased P50 par, 10,000 ordinary shares of Vader Company at P80 per share. The shares are designated as equity investments at fair value through other comprehensive income. On October 26, 2023 , Dark received 10,000 rights to purchase an additional 2,000 shares at P90 per share. The share rights received had an expiration date of February 1, 2024. How much is the income recognized upon receipt of share rights?

On April 1, 2023, Dark Company purchased P50 par, 10,000 ordinary shares of Vader Company at P80 per share. The shares are designated as equity investments at fair value through other comprehensive income. On October 26, 2023 , Dark received 10,000 rights to purchase an additional 2,000 shares at P90 per share. The share rights received had an expiration date of February 1, 2024. How much is the income recognized upon receipt of share rights?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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