sale of Mad Company ordinary shares on July 18, 2023? A. P4,500 B. P3,000 C. P1,500 D. P0 5. What is the amount transferred to retained earnings if Jam Company opted to transfer the unrealized gain or loss relating to the shares sold? A. P11,100 B. P5,500
sale of Mad Company ordinary shares on July 18, 2023? A. P4,500 B. P3,000 C. P1,500 D. P0 5. What is the amount transferred to retained earnings if Jam Company opted to transfer the unrealized gain or loss relating to the shares sold? A. P11,100 B. P5,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 23E
Related questions
Question
4. How much is the gain (loss) on the sale of Mad Company ordinary shares on July 18, 2023?
A. P4,500
B. P3,000
C. P1,500
D. P0
5. What is the amount transferred to
A. P11,100
B. P5,500
C. P5,100
D. P1,500
![Jam Company bought the ordinary shares of Mad Company designated as equity securities at
fair value through other comprehensive income, as follows:
June 20,2019-1,000 shares for P 101,600
November 5,2019-3,000 shares at P 104 per share
On January 25,2020, Jam Company received cash dividend of P 4.50 per share. On June
14,2020, it received a 10% bonus issue and on July 18,2020, Jam sold 1,500 shares at P 95 per
share.
Market values of Mad Company ordinary shares are as follows:
December 31,2019-P 106.70 per share
December 31,2020-P 96 per share](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe55125c8-a51b-441d-9a11-a370d4920c6a%2F87d3da30-ce4c-4392-8e58-efd703f80fae%2Ffpire14_processed.png&w=3840&q=75)
Transcribed Image Text:Jam Company bought the ordinary shares of Mad Company designated as equity securities at
fair value through other comprehensive income, as follows:
June 20,2019-1,000 shares for P 101,600
November 5,2019-3,000 shares at P 104 per share
On January 25,2020, Jam Company received cash dividend of P 4.50 per share. On June
14,2020, it received a 10% bonus issue and on July 18,2020, Jam sold 1,500 shares at P 95 per
share.
Market values of Mad Company ordinary shares are as follows:
December 31,2019-P 106.70 per share
December 31,2020-P 96 per share
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