User Account

All Pages

What amount should be recorded as gain on distribution

Assignment Help Accounting Basics
Reference no: EM133129568

Question - AMP Corp owned 15,000 shares of equity securities of APP Company with carrying amount of P100 per share.

On October 31, 2020, AMP Corp declared these shares as property dividend to be paid on March 31, 2021.

The quoted price of APP share is P130 on October 31, 2020, P150 on December 31, 2020 and P100 on March 31, 2021.

What amount should be recorded as gain on distribution of property dividend on March 31, 2021?

Reference no: EM133129568

Questions Cloud

What is the minimum expenditure that a consumer : Assume a health insurance plan had premiums of $500 per month, a deductible of $1000, a coinsurance rate of 20%, and a maximum out of pocket limit of $10,000.
Underlying the calculation of mobility rates : What are the two components underlying the calculation of mobility rates?
Compute the adjusted Net Sales for the month of December : As of December 1, debit balances in customers' subsidiary accounts totalled P59,000. Compute the adjusted Net Sales for the month of December
What is the liquidation value of Magic Homes : A sale of assets is expected to bring P3 million after all costs and taxes. What is the liquidation value of Magic Homes
What amount should be recorded as gain on distribution : The quoted price of APP share is P130 on October 31, 2020, P150 on December 31, 2020 and P100 on March 31, 2021. What amount should be recorded as gain
Create a prototype of a stand-alone website : Create a prototype of a stand-alone website for a desktop computer. Design your website to be rendered by a web browser to fit a desktop computer display
How much will the discount be : A company makes a purchase for $320 on December 1, terms 3/5 n/30. How much will the discount be if the amount paid on December 16
Compute the net delivered cost of purchases for kisling inc : On June 30 the general ledger of Kisling, Inc., had the following balances: Purchases $46,020 Dr. Compute the net delivered cost of purchases for Kisling Inc
What is estimated ending inventory : Purchases during the year total $172,500. Net sales are $345,000. If the usual gross profit rate is 55%, what is estimated ending inventory

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd