Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold
Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared P0.80 dividend per share. How much should Platinum report as dividend income?
a. P48,000
b. P56,000
c. P112,000
d. P240,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started