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What amount of dividend revenue be reported for day company

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Reference no: EM132893397

Day Company received dividends from share investments during the current year:

  • A share dividend of 4,000 shares from Parr Company when the market price of Parr's share was P20. Day Company owns less than 1% of Parr's share capital.
  • A cash dividend of P150,000 from Lark Company in which Day Company owns a 25% interest. A majority of Lark's directors are also directors of Day Company.

Question 1: What amount of dividend revenue should be reported for the current year?

a. P230,000

b. P150,000

c. P80,000

d. P-0-

Reference no: EM132893397

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