La-Fonte Corporation presented the following transactions: February 5, 2017 La-Fonte Corporation purchases ordinary shares of...
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La-Fonte Corporation presented the following transactions: February 5, 2017 La-Fonte Corporation purchases ordinary shares of tow companies, 18% of San Remo Co. 18.000 ordinary share at cost of $10 per share, and 35% of Borges Co. 35.000 ordinary share at cost of $12 per share. December 31, 2017 Net income San Remo Co. of $350.000 and net income Borges Co. of $580.000. December 31, 2017 Fair value San Remo Co. of $12 per hares and fair value Borges Co. of $20 per shares. January 29, 2018 San Remo Co. paid cash dividend of $150.000 and Borges Co. paid cash dividend of $200.000. February 2, 2018 La-Fonte Corporation purchases 15.000 ordinary shares, 10% of Barlila Co. at cost of $13 per shares, plus brokerage commissions of $5.900 July 23, 2018 La-Fonte Corporation sold all of its Borges Co. ordinary shares, receiving $400,000. December 31, 2018 Fair value San Remo Co. of $8 per hares and fair value Barlila Co. of $15 per shares.
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