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Find what amount of cash will noemy co receive

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Problem 1: Noemy Co. owns 15,000 of the 100,000 ordinary shares of Republic Corporation. The investment is accounted as Financial Assets at Fair Value Through Profit or Loss (FA-FV-P/L) with a carrying value of $3,300,000. Republic Corporation declared a 10% stock dividend but gave the investors the option to receive $210 per whole stock of dividend. What amount of cash will Noemy Co. receive? What is the journal entry to record the dividends if Noemy Co. opted to receive cash?

Reference no: EM132810198

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