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ABC Corporation acquired 4,000 shares of XYZ Corporation for 200,000 on August 1, 2020. ABC classified the investment as at Fair value through other comprehensive
ABC Corporation acquired 4,000 shares of XYZ Corporation for ₱200,000 on August 1, 2020. ABC classified the investment as at Fair value through other comprehensive income. XYZ corporation issued 1 share for every 4 shares held in lieu of a ₱15 per share cash dividends it has previously declared. The stocks were selling at that time at ₱55 per share. XYZ shares were selling at $60 per share on December 31, 2020.
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Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
