P4. On December 31, 2021, the carrying amount of the investment isABC Company purchased 25% of the ordinary shares of CBA Company.The investment in associate has a carrying amount of P1,000,000 at December 31, 2019.For years 2020-2023, CBA Company didi not declare any dividends.CBA Company reported the following results of operations:Profit/ (Loss)(3,000,000)20202021 (1,500,000)2022500,00020231,000,000

Solution Concept Investment In associate The investment in associate is recorded at cost on initial…

. On December 31, 2021, the carrying amount of the investment is BC Company purchased 25% of the ordinary shares of CBA Company. ne investment in associate has a carrying amount of P1,000,000 at December 31, 2 or years 2020-2023, CBA Company didi not declare any dividends. BA Company reported the following results of operations: Profit/ (Loss) 2020 (3,000,000) 2021 (1,500,000) 2022 500,000 2022 000.000

. On December 31, 2021, the carrying amount of the investment is BC Company purchased 25% of the ordinary shares of CBA Company. ne investment in associate has a carrying amount of P1,000,000 at December 31, 2 or years 2020-2023, CBA Company didi not declare any dividends. BA Company reported the following results of operations: Profit/ (Loss) 2020 (3,000,000) 2021 (1,500,000) 2022 500,000 2022 000.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What amount should be recorded as investment income for Hannah Company owned 20% of Love Company's preference share capital and 50% of the ordinary share capital. do-T-Valix-2-pdf.pdf Love Company's share capital outstanding comprised the following at year-end: 10% cumulative preference share capital Ordinary share capital 2,000,000 7,000,000 Love Company reported net income of P5,000,000 for the current year. What amount should be recorded as investment income 10 the current year? a. 2,400,000 b. 2,500,000 c. 2,600,000 d. 2,700,000 490
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Q1: How much is the investment income on 2021? Q2: How much is the carrying amount of the Investment in Associate as of December 31, 2021?
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