On January 1, 2019, Lee Inc. had cash and share capital of 10,000,000. At that date,...
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On January 1, 2019, Lee Inc. had cash and share capital of ¥10,000,000. At that date, the company had no other asset, liability, or equity balances. On January 5, 2019, it purchased for cash ¥6,000,000 of equity securities that it classified as non-trading. It received cash dividends of ¥800,000 during the year on these securities. In addition, it has an unrealized loss on these securities of ¥200,000. The tax rate is 20% Compute the amount of net income and comprehensive income/(loss). On January 1, 2019, Lee Inc. had cash and share capital of ¥10,000,000. At that date, the company had no other asset, liability, or equity balances. On January 5, 2019, it purchased for cash ¥6,000,000 of equity securities that it classified as non-trading. It received cash dividends of ¥800,000 during the year on these securities. In addition, it has an unrealized loss on these securities of ¥200,000. The tax rate is 20% Compute the amount of net income and comprehensive income/(loss).
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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