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How much must be the dividend income on the december

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Reference no: EM132858838

Chen Corporation bought 50,000 shares (5% ownership) of Dae Inc. on January 2, 2020 at $34 per share. Chen Corporation received a stock dividend of 15% on March 31, 2020 when the market price of the share is $40. On November 30, Chen Corporation paid $20 per share special assessment on the shares. On December 15, 2020, Dae Inc. paid a cash dividend of $8 per share. On December 31, the prevailing market price of the trading security is at $49 per share.

Problem a. How much must be the dividend income on the December 31, 2020 income statement?

Problem b. What amount must be recorded as the unrealized gain (loss) in the statement of comprehensive income?

Problem c. How much is the carrying amount of the above investment on December 31, 2020?

Reference no: EM132858838

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