Solution-What amount should be reported on september

What amount should be reported on september

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Reference no: EM132793792

On January 1, 2017, Scoundrel Company purchased 100,000 ordinary shares at P80 per share to be classified as nontrading through other comprehensive income.

On September 30, 2017, the entity received 100,000 stock rights to purchase 20,000 shares at P90 per share. The stock rights had an expiration date of February 1, 2018.
On September 30, 2017, each share had a market value of P114 and the stock right had a market value of P6.

Problem 1: What amount should be reported on September 30, 2017 as investment in stock rights?

Group of answer choices

Option 1: 500,000

Option 2: 400,000

Option 3: 600,000

Option 4: 100,000

Reference no: EM132793792

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What amount should be reported on september

Reference no: EM132793792

Reference no: EM132793792

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