Find shares contributed to the operation should be valued at

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Reference no: EM132640850

Problem 1: On September 30, 2019 R, S, and T agreed on a joint operation to sell their common stock shares of the Golden Copper Mines. Gains and losses are to be shared in proportion to the contributed shares. R contributes 6,000 shares, which had cost him P 42 a share; S gave 10,000 shares, which had cost P 58 each and T 4,000 shares which had cost P 62 per share. The par value of the shares was P 40 and when the operation began market value was P 50 a share. On October 20 he sold 4,500 shares for P 44 a share and P 3,000 expenses incurred. On November 1, Golden Copper distributed a stock dividend of 20%. T sold 5,000 shares, ex-stock dividend, on November 5 for P 25 a share. On November 15, Golden Copper paid a cash dividend of P 1 per share. On November 22, he sold 6,000 shares for P 28. On December 20, the remainder of the shares were sold for P 35 a share. T's expenses were P 4,700. The 20,000 shares contributed to the operation should be valued at:

Reference no: EM132640850

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