Reference no: EM132936346
Questions -
Q1) On July 01, 2021, Red Corp. purchases an investment property at a cost of P50,000,000 including transaction costs. On October 01, 2021, the fair value of the property increases to P51,000,000. On December 31, 2021, the fair value of the property is P48,000,000. The rental income received per quarter is P1,500,000. The property has a useful life of 50 years.
If the company uses the cost model, what is the net impact on the profit or loss for the 6 months ended December 31, 2021, in relation to the investment property?
Q2) Blue Corp. received dividends from its ordinary share investments during the year 2020 as follows:
A stock dividend of 10,000 shares from White Company when the market price of White's share was P10.
A cash dividend of P1,500,000 from Green Company in which Blue owns a 15% interest.
5,000 shares of Red Company in lieu of a cash dividend of P20 per share. The market price of Red Company's share was P150. Blue Corp. holds originally 50,000 shares of Red Company. Blue Corp. owns 5% interest in Red Company.
What amount of dividend revenue should Blue Corp. report in its 2020 income statement?
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Determine the unit product cost of Job
: Materials costs on the job totaled $5,000 and labor costs totaled $2,000 at $10 per hour. Determine the unit product cost of Job #461
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How many units did the company produce during the year
: Production cost was Php250 per unit under absorption costing. How many units did the company produce during the year
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What are some current issues
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What are the amounts each partner would report
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What is the net impact on the profit or loss
: If the company uses the cost model, what is the net impact on the profit or loss for the 6 months ended December 31, 2021, in relation to investment property
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What amount should be included as loss on disposal
: In Yellow Corp.'s statement of comprehensive income for the year ended 30 June 2021, what amount should be included as loss on disposal
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What is the rule in labor law
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Phase in the case management process
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What does training and development mean
: What does training and development mean? How does this course benefit YOU?
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