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Compute for the gain on sale of investment

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Reference no: EM132915384

Carmeli Company owns 1,000 shares from another entity costing P 200,000. On June 1, 2021, Carmeli received notice of dividend declaration of P7 per share. The date of record is on June 14, 2021. Dividend payment will be on June 30, 2021.
On June 5, 2021, Carmeli sold the investment for P 250,000.

Problem 1: Compute for the gain on sale of investment.

Group of answer choices

a. P 57,000

b. P 43,000

c. P 7,000

d. P 50,000

Reference no: EM132915384

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