Alexis Company bought the shares of Gabriel Company classified as equity Investments at fair value through other comprehensive income, as follows: April 17,2019       1,000 shares at P84 July 16, 2019        2,000 shares at P90 Market value per share of Gabriel Company shares at December 31, 2019 was P92. The following were the transactions for 2020:  January 10           Received cash dividend at P4 per share June 20                Received 5% bonus issue December 10       Sold 1,200 shares at P105 per share 1. How much is the total dividend revenue for the year 2020?   a. P0 b. P12,000 c. P13,800 d. P25,800   2. How much is the gain on the sale of the shares on December 10?   a. P15,600 b. P18,000 c. P20,857 d. P25,200

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
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Alexis Company bought the shares of Gabriel Company classified as equity Investments at fair value through other comprehensive income, as follows:

April 17,2019       1,000 shares at P84
July 16, 2019        2,000 shares at P90

Market value per share of Gabriel Company shares at December 31, 2019 was P92. The following were the transactions for 2020: 

January 10           Received cash dividend at P4 per share
June 20                Received 5% bonus issue
December 10       Sold 1,200 shares at P105 per share

1. How much is the total dividend revenue for the year 2020?
 
a. P0
b. P12,000
c. P13,800
d. P25,800
 
2. How much is the gain on the sale of the shares on December 10?
 
a. P15,600
b. P18,000
c. P20,857
d. P25,200
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