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An entity provided the following data pertaining to equity investments for the current year: On October 1, the entity received P600,000 liquidation dividend from A
An entity provided the following data pertaining to equity investments for the current year: On October 1, the entity received P600,000 liquidation dividend from A Company. The entity owned a 10% interest in A Company. The entity owned a 20% interest in B Company which declared and paid a P4,00,000 cash dividend to shareholders on December 31. On December 1, the entity received from C Company a dividend in kind of one share of D Company for every 4 C Company shares held. The entity had 100,000 C Company shares which have a market price of P50 per share on December 1. The market price of D Company share was P10. What amount should be reported as dividend income for the current year
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