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How much is the dividend income to be recognize for the year

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Reference no: EM132966256

Question - Charmaine Company provided the following data pertaining to dividends on ordinary share investments for the current year:

-On October 01, the entity received P600,000 liquidating dividend from A Company. The entity owned a 10% interest in A Company.

-The entity owned a 20% interest in B Company which declared and paid a P4,000,000 cash dividend to shareholders on December 31.

-On December 01, the entity received from C Company a dividend in kind of one share of D Company for every 4 C Company shares held. The entity had 100,000 C Company shares which have a market price of P50 per share on December 01. The market price of D Company share was P10.

Required - How much is the dividend income to be recognize for the year?

Reference no: EM132966256

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