On October 1, 2021, SIKAP Corporation owns 10,000 FVOCI shares acquired at a cost of P120,000. The shares represent 10% of the shares outstanding of TIYAGA Corporation. On the same date, TIYAGA declared 20% share dividends payable to stockholders on October 31. On October 31, the stock is selling at P12 per share. However, on October 31, TIYAGA Corporation gave P13 per share cash in lieu of the supposed share dividends previously declared a. How much is the dividend income to be recognized in 2021? b. Prepare all the necessary entries during the year.

Q: TJH Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10…

A: Formula: Share capital = Number of shares issued x Issue price.

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, the start of the current financial year, Tubble Ltd had in issue 36 million…

A: The journal entries to record the issue of bonus shares and EPS for 2020 and 2021 are presented…

Q: On July 1, 2021, ABC Corporation has 200,000 shares of P10 par common stock outstanding and the…

A: Note: There will ve no change in paid-up capital and additional paid-in capital balance due to…

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: AUBURN Corporation had 120,000 of ordinary shares issued and outstanding at January 1, 2021. On…

A: Formula: Basic earnings per share = Net income available to Ordinary shareholders / No. of Ordinary…

Q: On July 1. 2021, Funk Company has 400.000 shares of P25 par ordinary outstanding and the market…

A: Cost per treasury stock = Total costs / no. of treasury stock = P1650000/(50000*5) shares = P6.6 per…

Q: On July 1, 2021, ABC Corporation has 200,000 shares of P10 par common stock outstanding and the…

A: No. of shares issued after reverse stock split = No. of  common stock outstanding x reverse stock…

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 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: Haru Corporation reported the following shareholders’ equity on January 1, 2020. > Ordinary Share…

A: RE refers to Retained Earnings which is the amount of NI (Net Income) that is left or retained by…

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

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share…

A: The allocation of aum sum issue amount is given by  Ai = Mi/M * C Where Ai = amount allocated to…

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: On June 1, 2020, Golden Warriors Corporation declared a share capital dividend entitling its…

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

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

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On January 1, 2022, Dumbledore Company issued 10,000 shares of its P10 par value shares with a…

A: Owner equity means the amount that belong to the owner of the business.  Any profit will increase…

Q: Rayan Corporation was organized on January 1, 2020, with an authorization of 1,200,000 ordinary…

A: The total number of share premium as of December 31, 2020 = Cost of Treasury shares - Cost of…

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 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, the start of the current financial year, Tubble Ltd had in issue 36 million…

A: Calculation of bonus shares issued: Existing no of shares = 36 million Bonus shares proportionate =…

Q: On June 30, 2021 BANANA Company issued 1,000 of P10 par ordinary shares and 2,000 of P10 par…

A: The question is based on the concept of Financial Accounting.

Q: On July 1, 2021, Luke Corp. has 200,000 shares of P100 par common stock outstanding and the market…

A: A company has several sources from where it can raise funds. It can issue equity shares and the…

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

A: Number of shares owned by Keith = 8,000 Price of shares = $96,000 Price per share = $96,000 / 8,000…

Q: Garnett Company was organized on January 1, 2020 with authorized capital of 100,000shares of P200…

A: Share premium  is additional  amount  received  in excess of par on issue of stock

Q: On July 1, 2021, TJH Corporation has 200,000 shares of P10 par common stock outstanding and the…

A: The stock split leads to change in number of outstanding shares.

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: On February 1,2020, Neversaynever Corporation declared a bonus issue entitling its shareholders to…

A: Bonus shares are the shares which are issued to the existing shareholders free of charge. These are…

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 May 8, 2022, BFAR Corp. declared 10% share dividend to its preference shareholders to be…

A: Share Dividend - Share Dividend is the shares issued by the company to its already existing…

Q: Pluto Company began operations on January 1, of 500,000 preference shares of P5 par value of which…

A: Contributed Capital is the amount a company receives on the account of issue of common and preferred…

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 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, the start of the current financial year, Tubble Ltd had in issue 36 million…

A: 1. Determination of Journal entries to record issue of bonus shares Date Account title and…

Q: On June 1, Axie Corporation issued 8,000 shares of its P100 par ordinary share capital to BEAST for…

A: Share Premium Account In a simple work share premium account is the difference between the basic…

Q: Lea Inc, owned 900,000 shares of Mia Corporation stock. On December 31, 2010, when Lea's account…

A: Answer with all workings are as follows:

Q: Ivy Corp declared a share capital dividend entitling its shareholders to one additional share for…

A: >Share Capital dividend or Stock dividend is the dividend given to stockholders in form of new…

Q: On August 15, 2021, EasyMoney, Inc.'s Board of Directors meets and declares that EasyMoney will pay…

A: The dividends are declared from the retained earnings balance.

Q: ABC Corp organized on January 1, 2019, at which date it issued 200,000 shares of P10 par ordinary…

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

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.