how much should MANGO report as gain or loss on sale of investment?

Q: On January 2, 2020, Gamu Company purchased as a long term investment 10,000 ordinary shares of…

A: Solution: Cost of investment for Gamu = 10000*P70 = P700,000 Sale value of investment for Gamu =…

Q: On December 31, 2020, GHI Corporation holds 50,000 shares of Harry Company with market value of…

A: Unrealized gain means the upsurge in the worth of an asset or security which is yet to sold for…

Q: 5. On June 1, 2020, Ping Corp. purchased 10,000 of Pong’s 50,000 outstanding shares at a price of…

A: solution given Date of purchase of share June 1 2020 Number of total share of pong 50000…

Q: balance in Tuao’s investment in Abulug Company

A: Balance of investment in other entity = Cost of investment + (Profit of the other entity *…

Q: On January 2, 2020, Tuao Company purchased 10% of Abulug Company's outstanding ordinary shares for…

A: The investment in shares of another company gets increased by net profit and gets decreased by…

Q: On July 1, 2021, Focus Company purchased 30,000 shares of Eagle Company's 100,000 outstanding…

A: The profit made from assets including property and investment securities is known as investment…

Q: On January 1, 2021, Lourdes Company purchased 10,000 ordinary shares of LTS Corporation, a large,…

A: Solution Given Number of share purchased 10000 LTS distributed 20% bonus issue Par…

Q: On December 31, 2020, Naengmyeon Company, an entity with no subsidiary, purchased 10,000 ordinary…

A: Carrying Value of an Investment calculated by adding the investments with proportionate return of…

Q: Pharoah Company owns 3200 of the 10000 outstanding shares of Sheridan Corporation common stock.…

A: % of shares = No. of shares hold / Total outstanding shares of Sheridan Corporation = 3200/10000 =…

Q: On October 1, 2021, SIKAP Corporation owns 10,000 FVOCI shares acquired at a cost of P120,000. The…

A: a) calculation of dividend income - SIKAP owns 10000 FVOCI shares which represent 10% of the total…

Q: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: On 01.01.2020, Prateroon company purchased all the net assets of Stranemon company. The purchase…

Q: On January 1, 2022, Bumili Co. purchased 10,000 shares of Nabili, Inc. for P1,000,000. Commission…

A: Unrealized Gain on Investment: In accounting, an unrealized gain is a rise in the value of an asset…

Q: Rome Inc. acquired 50,000 ordinary shares of Egypt Company at P120 per share. On February 14, 2020,…

A: Shareholder means the owner of the company who is holding share in its name. Right share means where…

Q: STAR Company purchased 10,000 shares of MOON Corporation ordinary shares at P90 share on January 3,…

A: Here discuss about the details of dividend income and its accounting treatment which are received in…

Q: n January 2, 2020, Gamu Company purchased as a long term investment 10,000 ordinary shares of llagan…

A: Solution: Cost of investment = 10000*P70 = P700,000 Sale value of investment = 10000*P100 =…

Q: 4. MANGO Company acquired 4,000 shares of KIWI Corporation ordinary shares on April 2, 2020 at a…

A: Held for trading investments are those, which are purchased for the purpose of selling in the short…

Q: On January 1, 2021, the Swiss Company purchased 10,000 ordinary shares at P80 per share to be…

A: Right shares are the shares issued after original issue to the existing shareholder to purchase more…

Q: Jackson Inc. purchased 30,000 shares of common stock of the Pixel Corporation $10 per share on…

A: calculation of revenue from investment and investment shown in balance sheet are as follows

Q: On January 1, 2020, Elite Company paid P 18,000,000 for 50,000 ordinary shares of Craze Company…

A: The total amount of investment at the end is the net value of an investment which is calculated by…

Q: On January 1st 2020, the Tesla Company purchased 400 of the 1000 shares of the Spaceship Enterprise…

A: Journal Entry The purpose of preparing the journal entry to enter the required transaction which are…

Q: On January 2, 2020, Tuao Company purchased 10% of Abulug Company’s outstanding ordinary shares for…

A: Formula: Ending capital = Beginning capital + Net income - Dividends paid

Q: BOY Co. acquired 50,000 ordinary shares of GIRL Co. on September 30, 2019 for P8,250,000. On October…

A: 1. Details of GIRLS Co. shares held by BOYS Co. before and after the share split. Date Cost of…

Q: On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100…

A: When the shareholder of an entity is given an invitation to purchase more or additional shares of…

Q: How much is the unrealized gain (loss) recognized in Bumilis 2022 profit or loss?

A: Unrealized gain or loss is the amount of gain or loss which the company has taken into account by…

Q: Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000.…

A: Answer with explanation are as follows

Q: On January 1, 2020 Psy Company purchased all the net assets of SM Ent. Company: Issuance of 20,000…

A: Computation of Contingent liabilities: Settlement in the form of cash= Estimated settlement value x…

Q: Princess Corp. purchased 100,000 ordinary shares at P80 per share on January 1, 2020. These shares…

A: The ordinary shares means the shares whose shareholders have the right to participate in the…

Q: On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100…

A: Given that the Kier corporation holds 30,000 shares in Lord company.  Kier corporation Rights=…

Q: Qutacember 5, 2020, POY company purchased 15,000 shares of SM. SM has 10,000.000 OUTstanding shares.…

A: As per protocol we provide solution to the one question only and as you have asked multiple…

Q: On January 1, 2020. Mickey Mouse Corporation owns 15,000 ordinary shares representing 15% of the…

A: Answer: Jan 1 2020: 15000 shares with cost of P1,400,000 Dec 31,2020: 15000 shares with fair market…

Q: For the next (2) two questions: STU Company purchased 10,000 shares representing 2% ownership of…

A: The income statement of a company represents the outcome of the operations of the business in terms…

Q: On January 1, 2021, the Swiss Company purchased 20,000 ordinary shares at P100 per share to be…

A: Right offers are the offers given after original issue to the current investor to buy a greater…

Q: On June 1, 2020, Ping Corp. purchased 10,000 of Pong's 50,000 outstanding shares at a price of P6.00…

A: The correct statement is

Q: On February 2, 2020, Groove Company purchased 15% of Pop Company's common stock for $54,000. Pop's…

A:

Q: ethod and assume that Walter ordinary shares should be classified as a trading security. (Use “FVTPL…

A: a) In the books of M/s Control Alt Deign Journal     Date Particulars Dr($) Cr($) 1 Jan 2020…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

A: Solution:Total cost of investment = Purchase cost + Brokerage fee - dividend= 40000*100 + 120000 -…

Q: On January 2, 2020, Hanz Corporation bought 30% of the outstanding ordinary shares of Eve…

A: Hanzs' share in net income of Eve = Eves' Net income ×Hanzs' controlling share=P 1,400,000 × 30%=P…

Q: On August 31, 2020, Laida Corporation purchased all the net assets of Magtalas Corporation by…

A: Share Premium Share premium is the addition revenue which are derived in the business after issuing…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine Inc. stock at P100 per…

A: Introduction:- Calculation of total cost of investment as follows:- Total cost of investment =…

Q: On September 1, 2019, Pelican Ltd exchanged 10,000 ordinary shares held in treasury for a used…

A: The treasury stock includes the own shares of the company that are purchased from the shareholders.…

Q: Philip Company purchased 250,000 ordinary shares of Smiley Company for P40 per share on April 2,…

A: Given, Total Dividend paid=P600,000Total ordinary shares outstanding=1,000,000 ordinary shares

Q: On August 31, 2020, Laida Corporation purchased all the net assets of Magtalas Corporation by…

A: The share premium account balance cannot be utilized for distributing dividends but can be utilized…

Q: ILA Company agreed to pay $850,000 cash and issue 50,000 shares of its $10 par (20 current fair…

A: Step 1 In business combination, when the number of shares is issued, they are generally issued   at…

Q: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: On December 1, 2020, Citrus purchased 200,000 shares representing 45 percent of the outstanding…

A: Citrus long term investment in Berry should be shown in Citrus December 31, 2020, statement of…

Q: For the next (2) two questions: STU Company purchased 10,000 shares representing 2% ownership of…

A: The journal entries can be defined as the base of accounting because the business transaction is…

Q: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: Total Liabilities on January 1, 2020

Q: On December 31, 2020, Naengmyeon Company, an entity with no subsidiary. purchased 10,000 ordinary…

A: A share is a financial security which can be purchased for the investment purpose in a company. An…

Q: On March 1, 2022, Dolor Company purchased 5,000 shares of Susan Incorporated paying P12 each share…

A: As per IAS 39, Financial instruments recognition and measurement,  Their is an irrevocable…

Q: On December 1, 2020, Citrus purchased 200.000 shares representing 45 percent of the outstanding…

A: Solution: Citrus long term investment in Berry should be shown in Citrus December 31, 2020,…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.