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ABC Company received dividends from ordinary share investments during the current year.
I. A stock dividend of 10,000 shares from A Company when the market price of the share was P10.
II. A cash dividend of P1,500,000 from B Company in which the entity owned a 15% interest.
III. 5,000 shares of C Company in lieu of cash dividend of P20 per share. The market price of the share was P150. The entity had 50,000 shares of C Company and owned 5% interest in C Company.
Problem 1: What amount of dividend revenue should be reported for the current year?
Assume that the total sales value at the split-off point for product 1 is $66,000 instead of $181,500 and the sales value of product 3 is $3,300 instead of $49
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Net salary (after $18,000 PAYG tax withheld) $55,000. Determine Selina's net tax payable/refundable (including Medicare Levy) for the 2017/18 tax years
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