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Chowking Company engaged in the following investment transactions during the current year: Purchased 5.000 ordinary...

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Accounting

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Chowking Company engaged in the following investment transactions during the current year: Purchased 5.000 ordinary shares of ZZZ Company for P200 per share plus a February 1 brokerage commission of P50,000. These shares are classified as trading securities. June Received P120 per 25 share dividend on ZZZ Company shares. Purchased 20,000 shares of XXX June Received P120 per 25 share dividend on ZZZ Company shares. October 1 Purchased 20.000 shares of XXX Company for P150 per share plus brokerage fee of P100,000. These shares are designated at FVOCI. Received P50 per December 31 share dividend on XXX Company shares. ZZZ Company shares are selling for P250 31 and XXX shares are selling for P180. Received P50 per December 31 share dividend on XXX Company shares. ZZZ Company shares are selling for P250 31 and XXX shares are selling for P180. What amount of dividend income should be reported for the current year

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