. What is the gain on remeasurement to equity to be recognized for 2021? a. 1,500,000 b. 4,500,000 c. 2,250,000 d. 0 2. What is the goodwill arising from the acquisition on January 1, 2021? a. 2,250,000 b. 1,250,000 c. 1,350,000 d. 350,000 3. What is the carrying amount of the investment in associate on December 31, 2021? a. 11,250,000 b. 11,800,000 c. 12,000,000 d. 14,300,000
. What is the gain on remeasurement to equity to be recognized for 2021? a. 1,500,000 b. 4,500,000 c. 2,250,000 d. 0 2. What is the goodwill arising from the acquisition on January 1, 2021? a. 2,250,000 b. 1,250,000 c. 1,350,000 d. 350,000 3. What is the carrying amount of the investment in associate on December 31, 2021? a. 11,250,000 b. 11,800,000 c. 12,000,000 d. 14,300,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
1. What is the gain on remeasurement to equity to be recognized for 2021?
a. 1,500,000
b. 4,500,000
c. 2,250,000
d. 0
2. What is the
a. 2,250,000
b. 1,250,000
c. 1,350,000
d. 350,000
3. What is the carrying amount of the investment in associate on December 31, 2021?
a. 11,250,000
b. 11,800,000
c. 12,000,000
d. 14,300,000
Transcribed Image Text:On January 1, 2020, Forensic Company acquired a 10%
interest in an investee for P3,000,000. The investment was
accounted for using, the çast. method.
On January 1, 2021, the entity acquired a further 15% interest
investee was P36,000,000 and the fair value of the 10%
Problem 18-8 (IFRS)
on January 1, 2021, the antity acquired a further 15% interest
in the investee for P6,750,000.
On such date, the carrying amount of the net assets of the
interest was P4,500,000.
The fair value of the net assets. of the investee is equal to
carrying amount except for an equipment whose fair value
exceeds carrying amount by P4,000,000. The equipment has
a remaining life of-5 years.
The investee reported net income of P8,000,000 for 2021 and
paid dividend of P5,000,000 on December 31, 2021.
1. What is the gain on remeasurement to equity to be
recognized for 2021?
a. 1,500,000
b. 4,500,000
c. 2,250,000
d.
2. What is the goodwill arising from the acquisition on
January 1, 2021?
a. 2,250,000
b. 1,250,000
c. 1,350,000
d.
350,000
* What is the carrying amount of the investment in
associate on December 31, 2021?
a. 11,250,000
b. 11,800,000
c. 12,000,000
d. 14,300,000
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