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Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000. On Nov. 30, 2020, Agustin distributed a 10% ordinary share dividend when the market price of the stock was P250 per share. On Dec. 20, 2020, Pangan sold 400 shares of its Agustin stock for P106,000. For the year ended Dec. 31, 2020, how much should Pangan report as dividend revenues?

Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000. On Nov. 30, 2020, Agustin distributed a 10% ordinary share dividend when the market price of the stock was P250 per share. On Dec. 20, 2020, Pangan sold 400 shares of its Agustin stock for P106,000. For the year ended Dec. 31, 2020, how much should Pangan report as dividend revenues?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000. On Nov. 30, 2020, Agustin distributed a 10% ordinary share dividend when the market price of the stock was P250 per share. On Dec. 20, 2020, Pangan sold 400 shares of its Agustin stock for P106,000. For the year ended Dec. 31, 2020, how much should Pangan report as dividend revenues? А) РО В P 106,000 c) P 100,000 D P 46,000
Transcribed Image Text:Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000. On Nov. 30, 2020, Agustin distributed a 10% ordinary share dividend when the market price of the stock was P250 per share. On Dec. 20, 2020, Pangan sold 400 shares of its Agustin stock for P106,000. For the year ended Dec. 31, 2020, how much should Pangan report as dividend revenues? А) РО В P 106,000 c) P 100,000 D P 46,000
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