Question
Problem 12 Paraiso held 40% interest in Delgado Corporation's 100,000 outstanding ordinary shares. By the end of 2019, its carrying value was P2,800,000. On January
Problem 12 Paraiso held 40% interest in Delgado Corporation's 100,000 outstanding ordinary shares. By the end of 2019, its carrying value was P2,800,000. On January 2, 2020, Paraiso sold 30,000 shares at P3,000,000. On the same date, the quoted price of the said stock was P120 per share.
Compute for:
a. Gain on sale
b. Gain from remeasurement
c. Carrying value of the investment
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Payroll Accounting 2017
Authors: Jeanette Landin, Paulette Schirmer
3rd edition
1259572188, 1259572180, 1259742512, 9781259742514, 978-1259572180
