Solution-What amount should be reported as dividend income

What amount should be reported as dividend income

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Reference no: EM132936410

Question - Marion Company provided the following data pertaining to dividends on ordinary share investments for the current year.

On October 1, the entity received P600,000 liquidating dividend from A Company. The entity owned a 10% interest in A Company.

The entity owned a 20% interest in B Company which declared and paid a P4,000,000 cash dividend to shareholders on December 31.

On December 1, the entity received from C Company a dividend in kind of one share of D Company for every 4 C Company shares held. The entity had 100,000 C Company shares which have a market price of P50 per share on December 1. The market price of D Company share was P10.

What amount should be reported as dividend income for the current year?

Reference no: EM132936410

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What amount should be reported as dividend income

Reference no: EM132936410

Reference no: EM132936410

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