Question: May I ask for an explanation and supporting solution in good accounting form to the problem for a better understanding. Thank you! Sandy Company owns

May I ask for an explanation and supporting solution in good accounting form to the problem for a better understanding. Thank you!

Sandy Company owns 15,000 of the 100,000 ordinary shares of X Corporation. The investment is accounted as Financial Assets at Fair Value Through Profit or Loss (FA-FV-P/L) and has a carrying value of P3,300,000. X Corporation declared a 10% stock dividend but gave the investors the option to receive P210 per whole stock of dividend. How much cash will Sandy receive? In your solutions, show the journal entry to record the dividends if Sandy opted to receive cash.

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