Global Company, a real estate developer, is owned by five founding shareholders. On December 1, 2017,...

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Global Company, a real estate developer, is owned by five founding shareholders. On December 1, 2017, the entity declared a property dividend of a "one-bedroom flat" for each shareholder. The property dividend is payable on January 31, 2018. On December 1, 2017, the carrying amount of a one-bedroom flat is P1,000,000 and the fair value is P1,500.000. However, the fair value is P1,800,000 on December 31, 2017 and P1,900,000 on January 31, 2018. 1. What is the dividend payable on December 1, 2017? 2. What is the dividend payable on December 31, 2017? 3. What amount of gain is included in profit or loss as a result of the settlement of the property dividend on January 31, 2018? Global Company, a real estate developer, is owned by five founding shareholders. On December 1, 2017, the entity declared a property dividend of a "one-bedroom flat" for each shareholder. The property dividend is payable on January 31, 2018. On December 1, 2017, the carrying amount of a one-bedroom flat is P1,000,000 and the fair value is P1,500.000. However, the fair value is P1,800,000 on December 31, 2017 and P1,900,000 on January 31, 2018. 1. What is the dividend payable on December 1, 2017? 2. What is the dividend payable on December 31, 2017? 3. What amount of gain is included in profit or loss as a result of the settlement of the property dividend on January 31, 2018?

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1 Dividend Payable on December 1 2017 The dividend payable on December 1 2017 is based on the fair v... View the full answer