3. Bach Co. acquired a 20% interest in C Major Co. on December 31, 20x3 for P630,000. During 20x4, C Major reported profit of P400,000 and paid cash dividends of P100,000. At December 31, 20x4, the balance in the investment account should be

3. Bach Co. acquired a 20% interest in C Major Co. on December 31, 20x3 for P630,000. During 20x4, C Major reported profit of P400,000 and paid cash dividends of P100,000. At December 31, 20x4, the balance in the investment account should be

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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