Solution-What amount of gain is included in profit or loss

What amount of gain is included in profit or loss as result

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Reference no: EM132560670

Global Co., a real estate developer, is owned by five founding shareholders. On December 1, 2020, the entity declared a property dividend of a "one-bedroom flat" for each shareholder. The property dividend is payable on January 31, 2021. On December 1, 2020, the carrying amount of a one-bedroom flat is P1,000,000 and the fair value is P1,500,000. However, the fair value is P1,800,000 on December 31, 2020 and P1,900,000 on January 31, 2021.

Question 1: What is the dividend payable on December 1, 2020?

Question 2: What is the dividend payable on December 31, 2020?

Question 3: What amount of gain is included in profit or loss as a result of the settlement of the property dividend on January 31, 2021?

Reference no: EM132560670

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What amount of gain is included in profit or loss as result

Reference no: EM132560670

Reference no: EM132560670

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