Question: Looking for answer and solution for question number 2 2. How much is the dividend income 5 points that should be recognized in 2018? *

Looking for answer and solution for question number 2

2. How much is the dividend income 5 points that should be recognized in 2018? * Genius Co. provided you with the following information regarding its investment in equity securities classified as financial assets at FVPL. December 31, 2017 Cost Fair Value Cavaliers Co. 1000 sh. 21,000 19,000 Matthew Inc. 500 sh. 10,000 9,000 David Corp. 200 sh. 20,000 23,000 Apollo 1000 sh. 15,000 17,000 66,000 68.000 The following transactions and events transpired in 2018. a. A cash dividend of 4,000 php was received from David Corp on December 1, 2018. b. A 10% stock dividend was declared and issued in October by Cavaliers Co when the market value per share was P22. c. Apollo shares were sold during the year for P16,500. The market values per share of the stocks at December 31, 2018 are as follows: Cavaliers Co. P20 Matthew Inc. P14 David Corp. P85

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