Reference no: EM132952539
Question - Yultide, Inc. had the following transactions in the ordinary shares of May Corporation:
January 5 Bought 4,000 ordinary shares, P100 par, at P88 each.
June 15 Received 10% share dividend.
August 31 Received P4 cash dividend for each ordinary share.
October 10 Received share rights to buy one new share at P100 for every 5 shares held. Market value of share right is P4. Share rights are accounted for separately.
November 15 Exercise half of the stock rights and half of it expires.
December 15 Sold 1,000 share investment at P100 each. Use the FIFO approach.
Required -
1. Compute the revised unit cost per share after the receipt of 10% dividend on June 15.
2. Compute the unit cost per share after the receipt of share rights on October 10.
3. Compute the loss on share rights on November 15.
4. Compute the additional cost of share investment and additional number of shares purchased on November 15.
5. Compute the gain sale on share investment on December 15.
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