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How much should rereina show in statement of financial

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Reference no: EM132911566

Problem 1: On January 2, 20x1 Rereina Corporation bought 15 percent of Sasha Corporation's capita; shares for P 60,000 and classified it as fair value through other comprehensive income securities. Sasha's profits for the years ended December 31, 20x1 and 20x2, were P 20,000 and P 100,000 respectively. During 20x2, Sasha declared a dividend of P 120,000. No dividends were declared in 20x1. On December 31, 20x2, the fair value of the Sasha's shares owned by Rereina had increased to P 90,000. How much should Rereina show in its 20x2 statement of financial performance as income from this investment?

Reference no: EM132911566

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