Problem 6: On January 2, 2016, Lotus Company purchased 8,000 shares of Pearl Co. at...
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Problem 6: On January 2, 2016, Lotus Company purchased 8,000 shares of Pearl Co. at Php 100 per share and classified as available for sale. Brokerage fees of Php 24,000 and tax of Php 4,000 were paid on the same date. A Php 4 dividend per share of Pearl had been declared on December 172015 to be paid on March 1, 2016 to shareholders of record on January 31, 2016. On July 31,2016 . Lotus Company received a 10\% stock dividend on December 31216 and also paid Php 10 for each share as special assessment. Required; 8. If market value of Pearl Company securities is not clearly determinable as of December 31 , what is the unit cost for each share on December 31,2016 ? (5 pts)
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