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Compute the dividend income to be reported by Johaira

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Reference no: EM132796333

Question - Johaira Company purchased 10,000 shares representing 2% ownership of Barbara Company on February 15, 2015. Johaira received a stock of 2,000 shares on March 31, 2015, when the carrying amount per share on Barbara's books was P350 and the market value per share was P400. Barbara paid a cash dividend of P15 per share on September 15, 2015.

Required - Compute the dividend income to be reported by Johaira on its October 31, 2015 income statement.

Reference no: EM132796333

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