On January 2, 2022, MAMBA Inc. purchased 5,000 shares of the 20,000 shares outstanding of BLACK Corporation stock for P15,000. The following information was reported by BLACK during 2022: Net Income                              P45,000 Dividends                                P1.75 per share Market Price, 12/31/18                        P2.50 per share   MAMBA, Inc. sold all of its BLACK Corporation stock on January 15, 2023, for P3.10 per share.   Compute the carrying amount PER SHARE of the Investment.   The amount of gain or loss MAMBA, Inc. should report on the sale is

Q: On June 15, 2021, LABAN Company owns 20,000 shares with a cost of P1,000,000 of GANGDULO Company’s…

A: On 15.06.2021, LABAN company owns shares of GANGDULO company = 20000 shares Cost of purchase =…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: The dividend is declared and paid to the shareholders from the retained earnings of the business.

Q: 0,000 shares f

A: Introduction Capital Gain on Shares: It is possible to realist a capital gain on the appreciation…

Q: MM Co. had 100,000 shares of ordinary share issued and outstanding at January 1, 2021. During 2021,…

A: Shares are split by 2-for-1. Each share is converted into 2.  Total shares outstanding before stock…

Q: On July 15, 2021, Max Co. acquired 25,000 shares of Chicken Co. for P250,000 which includes P1 cash…

A: The acronym "FVPL" stands for Fair Value Through Profit or Loss, these types of securities are not…

Q: On January 1, 2022, Softmicro Corp was formed by issuing 10,000 shares of $5 par common stock   and…

A: Journal Entries:

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

A: The dividend income is recognized in the profit and loss account if it is declared by the…

Q: On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther…

A: The portion of the dividend is based on the portion of holdings. The holding can be calculated by…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Accumulated depreciation related to a fixed asset means the total amount of depreciation charged on…

Q: On December 31, 2020, ABC Co. was registered at SEC with 100,000 authorized ordinary shares of P100…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Prepare the shareholders' equity section of BEST SCHOOL's statement of financial position as of…

A: Shareholders equity is the portion of capital being invested by the equity shareholders for the…

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

A: Stockholders’ equity is the measure of assets staying in a business after the sum total of the…

Q: Shangrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2018            2000…

A: Cash dividend = 5000 shares x P 10 = P50000

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Share split in the business is one in which one share of the company is split or broken into…

Q: Senden Company was organized on January 1, 2020 at which date it issued 300,000 ordinary shares of…

A: Treasury stock refers to the purchasing back of the shares of the company that are already issued.

Q: On November 1, 2020, Fashion Supplies, Inc. purchased 2,000 shares of Everyday Couture, Inc. for…

A: Residual Income:- It is a method to calculate the valuation which formally accounts for the cost of…

Q: Presented below are two independent Ivanhoe Inc. acquired 10% of the 403,000 shares of common stock…

A: Date Particulars Debit Credit June 17, 2022 Available for sale securities (403000*10) $4,030,000…

Q: 5. On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther…

A: The question is related Business Combination. The details are as under  Stake of  MNO Comapny in…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Balance in ordinary shares before split=Number of shares×Par value=400,000×P25=P 10,000,000

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, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: The retained earnings of the business comprises of accumulated profits of previous year profits and…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On January 1, 2020, Keith Company paid $96,000 for 8,000 shares of Jerry Company common stock. The…

A: What amount will be reported in the balance sheet of Keith Company for the investment in Jerry…

Q: On January 2, 2012, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

A: As per IFRS 9, Financial instruments, the financial assets classified as fair value through other…

Q: Harbottle Corporation was organized on January 3, 2021, with an authorized capital of 100,000 shares…

A: Loss on reissue of treasury shares  = no. of treasury shares  reissued x (Purchase price - reissue…

Q: Zwick Company bought 25,500 shares of the voting common stock of Handy Corporation in January 2021.…

A: Dividend  revenue  to be recognized  = Number of shares held × Dividend  per share.

Q: On October 1, 2021, Taehyung Company acquired 40,000 ordinary shares for $880,000 at to be held for…

A: As per IFRS 9, Financial instruments, The financial assets measured at fair value through profit and…

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: Min Hyun Jing Ltd. purchased 21,600 common shares of Glastone Ltd. on January 1, 2018, when the…

A: Investment is an amount which is put in business as capital to carried it out. It can be in form of…

Q: On December 31, 2020, Melon Co. was registered at SEC with 100,000 authorized ordinary shares of…

A: Par value of ordinary shares issued = No. of ordinary shares issued x Par value per share = 40,000 x…

Q: The balance in the retained earnings account of Indigo Corporation was P450,000 at December 31,…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Mitch Company was organized on January 1, 2021 and issued 100,000 P20 par value shares at P23 per…

A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…

Q: Prepare journal entries to record the transactions assuming:  a.) The securities are classified as…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: On October 1, 2021, Taehyung Company acquired 40,000 ordinary shares for $880,000 at to be held for…

A: Gain = Sale value of shares sold - Purchase value of shares purchased

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Cash sale of additional ordinary shares means cash will be received for the sale of additional…

Q: On July 15, 2021, Max Co. acquired 25,000 shares of Chicken Co. for P250,000 which includes P1 cash…

A: The realized gain refers to the gain that is converted into cash by the company by selling off the…

Q: On January 1, 2020, Chen Company acquired 10,000 shares of GHI Corporation for P600, 000. GHI…

A: Investment is the amount invested by the individual or firm in any firm in the form of equity or…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: Santol Inc. issued 200,000 shares of P5 par value at P10 per share. On January 1, 2021, the retained…

A: >Treasury Stocks are the shares that have been repurchased by the company from its stockholders…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Retained earnings are the earnings that have been accumulated over a period of time. The ending…

Q: Santol Inc. issued 200,000 shares of P5 par value at P10 per share. On January 1, 2021, the retained…

A: Solution: Amount should be credited to share capital on issuance = Nos of shares issued * Par value…

Q: [The following information applies to the questions displayed below.] The following information…

A: Investment Accounting: When money is used to purchase an investment instrument, the accounting for…

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: Oriole Cosmetics acquired 10% of the 191,000 shares of common stock of Martinez Fashion at a total…

A: The journal entries are prepared to record daily transactions of the business.

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Total stockholders equity is the source of company's assets. Total Stockholders equity = Total…

Q: CFAS Company had the following shareholders' equity on January 1, 2022: Preference share capital,…

A: Note: As per our guidelines, only the first three subparts will be answered.   1. Amount charged to…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

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.