Reference no: EM133184764
Question - Global Company, a real estate developer, is owned by five founding shareholders.
On December 1, 2021, the entity declared a property dividend of a "one-bedroom flat" for each shareholders. The property dividend is payable on January 31, 2022.
On December 1, 2021, 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, 2021 and P1,900,000 on January 31, 2022.
a. What is the dividend payable on December 1, 2021?
b. What is the dividend payable on December 31, 2021?
c. What amount of gain is included in profit or loss as a result of the settlement of the property dividend on January 31, 2022?
|
Calculate the total equivalent units for conversion costs
: The ending units of work in process is 1000 units 40% complete for conversion costs. Calculate the total equivalent units for conversion costs
|
|
Determine the number of days sales in inventory
: Assuming that a business year consists of 360 days, determine the number of days' sales in inventory for 2009
|
|
What is the opportunity cost of producing pastries
: What is the opportunity cost of producing pastries in Northeast? What is the opportunity cost of producing pastries in West Coast
|
|
Calculate expected value of total dollar amount of losses
: On Tuesday, ABC Produce expects Package B to be delivered. Package B contains $6,000 worth of food. Calculate expected value of total dollar amount of losses
|
|
What is the dividend payable on december
: On December 1, 2021, the carrying amount of a one-bedroom flat is P1,000,000 and the fair value is P1,500,000. What is the dividend payable on December
|
|
Prepare the worksheet consolidation entries needed to remove
: Prepare the worksheet consolidation entries needed to remove the effects of the intercompany sale of land in preparing the consolidated financial statements
|
|
What is the dividend payable that should be recognized
: Each car has a fair value of P600,000 and carrying amount of P450,000. What is the dividend payable that should be recognized
|
|
What is amount of retained earnings available for dividends
: At the beginning of the current year, Flash Company had retained earnings of P4,000,000. What is amount of retained earnings available for dividends
|
|
How much should x report as his gross income
: Sale of a land in Marikina not used in business (with a FMV of P2,900,000), P3,300,000. How much should X report as his gross income
|