angrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2018 2000 shares at PI00 P200,000 December 5, 2018 3000 shares at P120 360,000 Shangrila designated the Crossing shares as At Fair Value through Other Comprehensive Income. The Crossing shares were quoted at PI25 on December 31, 2018. The following were the transactions for 2019: March 10 Received cash dividend at P10 per share June 20 Received 20% bonus issue. Shares sell at PI20 after the bonus issue. December 10 Sold 3,000 shares at P120 per share (coming from the December 5, 2018 lot). The Crossing shares were quoted at 125 at December 31, 2019. How much should Shangrila report as cumulative other comprehensive income in the equity section of its statement of financial position at December 31, 2019? a. P0 b. P100.000 c. P115,000 d. P125,000
angrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2018 2000 shares at PI00 P200,000 December 5, 2018 3000 shares at P120 360,000 Shangrila designated the Crossing shares as At Fair Value through Other Comprehensive Income. The Crossing shares were quoted at PI25 on December 31, 2018. The following were the transactions for 2019: March 10 Received cash dividend at P10 per share June 20 Received 20% bonus issue. Shares sell at PI20 after the bonus issue. December 10 Sold 3,000 shares at P120 per share (coming from the December 5, 2018 lot). The Crossing shares were quoted at 125 at December 31, 2019. How much should Shangrila report as cumulative other comprehensive income in the equity section of its statement of financial position at December 31, 2019? a. P0 b. P100.000 c. P115,000 d. P125,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Shangrila bought shares of Crossing, Inc. in two batches as follows:
June 10, 2018 2000 shares at PI00 P200,000
December 5, 2018 3000 shares at P120 360,000
Shangrila designated the Crossing shares as At Fair Value through Other Comprehensive Income.
The Crossing shares were quoted at PI25 on December 31, 2018. The following were the transactions for 2019:
March 10 Received cash dividend at P10 per share
June 20 Received 20% bonus issue. Shares sell at PI20 after the bonus issue.
December 10 Sold 3,000 shares at P120 per share (coming from the December 5, 2018 lot).
The Crossing shares were quoted at 125 at December 31, 2019.
How much should Shangrila report as cumulative other comprehensive income in the equity section of its statement of financial position at December 31, 2019?
a. P0
b. P100.000
c. P115,000
d. P125,000
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