Shangrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2019 December 5, 2019 2,000 shares at P100 3,000 shares at P120· P200,000 360,000 P560,000 Shangrila designated the Crossing shares as At Fair Valua through Other Comprehensive Income. The Crossing shares were quoted at P125 on December 31 2019. The following were the transactions for 2020: Received cash dividend at P10 per share Received 20% bonus issue. Shares sel at P120 after.the bonus issue. Sold 3,000 shares at P120 per share (coming from the December 5, 2019 lot). March 10 June 20 December 10 The Crossing shares were quoted at 125 at December 31, 2020. .How much is the gain (or loss) on the sale of the shares? а. Ро P 37,500 P 60,000 -P 80,000 b. с. d.

Shangrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2019 December 5, 2019 2,000 shares at P100 3,000 shares at P120· P200,000 360,000 P560,000 Shangrila designated the Crossing shares as At Fair Valua through Other Comprehensive Income. The Crossing shares were quoted at P125 on December 31 2019. The following were the transactions for 2020: Received cash dividend at P10 per share Received 20% bonus issue. Shares sel at P120 after.the bonus issue. Sold 3,000 shares at P120 per share (coming from the December 5, 2019 lot). March 10 June 20 December 10 The Crossing shares were quoted at 125 at December 31, 2020. .How much is the gain (or loss) on the sale of the shares? а. Ро P 37,500 P 60,000 -P 80,000 b. с. d.

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 23E

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