Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. andy corp. received the following donations during

ANDY CORP. received the following donations during the year 2020: a) Land from WENCY INC., parent...

80.2K

Verified Solution

Question

Accounting

ANDY CORP. received the following donations during the year 2020: 


a) Land from WENCY INC., parent of the entity, with a fair value on the date of transaction amounting to P550,000. 


b) 10,000 shares of another entity from a rich entrepreneur. The market value of the shares on that date is P30 per share. 


c) Cash of P100,000 from a stockholder owning 20% of the total outstanding shares of the company. 


How much is the total credit to donated capital?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Read the excerpts from Wuthering Heights by Emily Bronte and answer the question that follows....

Biology
Q

Answer the following questions using R (include both the input and output for each question). I) A...

Statistics
Q

The total numbers of Navy personnel N (in thousands) and Marines personnel M (in thousands)...

Basic Math
Q

Find the radius of a circle on which a central angle measuring 2 radians intercepts...

Basic Math
Q

A rain gutter is formed by bending up the sides of a 52-in.-wide rectangular metal...

Basic Math
Q

The probability that a certain baseball player will hit a home run in a baseball...

Statistics
Q

If possible find and enter the missing matrix If not possible enter DNE a 10...

Algebra
Q

Use the starting paiance sheet and statement of cash flows to answer...

Accounting
Q

Total return as defined in the text is: O the difference between the sale price...

Accounting
Q

I do not need explication, I just need A,B,C or D answer. Thank you!! 1....

Accounting
Q

With the FVOCI method, transaction costs are usually added to the carrying amount of the...

Accounting
Q

On January 1, Year 1, Carrot, an individual, paid $17,200 for 5 percent of the...

Accounting