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Ay16!17!2nd Semester Acctg03 Fass 03-Questionnaire-Part 1
Ay16!17!2nd Semester Acctg03 Fass 03-Questionnaire-Part 1
GENERAL DIRECTIONS: Use black permanent ink pen in writing your final
answers in your answer sheet. Erasure and/or superimposition of any kind is
strictly not allowed. Doing such shall automatically render your answers
INCORRECT. Choices are CASE- SENSITIVE. DO NOT CHEAT. GOD IS
WATCHING YOU.
PART I
1. Guess Company purchased 50,000 shares (5% ownership) of Casio Company
on January 15, 2014. Guess received a share dividend of 15% on March 31, 2014
when the market price of the share is P 40. On December 15, 2014, Guess received
a cash dividend of P 8 per share. In the statement of comprehensive income for
the year ended December 31, 2014, what amount should Guess report as dividend
income?
- END OF PART 1 -