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What amount should Dale report

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Q1. On April 1, 2020, Darius acquired 2,000 ordinary shares at P48 per share in Alan Enterprises and classified the Equity investment FVOCI. In addition, the broker's commissions for this transaction were P2,400. During 2020, Darius received P7,200 in cash dividends, and on July 1, 2020, a 5% stock dividend was issued. On December 1, Alan issued a 2-for-1- stock split. At December 31, 2020, the book value per ordinary share held by Darius is?

a. 23.43

b. 22.86

c. 24.60

d. 25.14

Q2. On January 3, 2018, Dart Co. purchased 500 shares of Mina Corp. ordinary shares for P36,000. On December 2, 2019, Dart received 500 stock rights from Mina. Each right entitles the holder to acquire one share of stock for P85. The market price of Mina's stock was P100 a share immediately before the right were issued, and P90 a share immediately after the rights were issued. Dart sold its rights on December 31, 2020, for P10 a right. Dart's gain from the sale of right is?

a. -0-

b. 1,000

c. 1,400

d. 1,500

Q3. On March 4, 2020, Dale Co. purchased 1,000 ordinary shares of LCD at P80 per share. On September 26, 2020, Dale received 1,000 stock rights to purchase an additional 1,000 shares at P90 per share. The stock rights had an expiration date of February 1, 2021 On September 30, 2020, LCD's ordinary share had a market value ex-rights of P95 each and the stock rights had a market value of P5 each. What amount should Dale report on its September 30, 2020 balance sheet as the cost of the investment in stock rights?

a. -0-

b. 5,000

c. 10,000

d. 15,000

Reference no: EM132692066

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