COMPUTE FOR YOUR CARRYING AMOUNT FOR THE YEAR ENDED 2021 *MAB Company acquires 23% equity interest from BAMCompany on January 1, 2020 for P340, 000. OnDecember 30, 2020 BAM Company reported a P 530,000 profit and declared a dividends P 220, 000.December 30, 2021Reported losses P 250, 000Declared a dividends of P 120, 000December 30, 2022Reported losses P120, 000Declared dividends of P 70, 000

Given in the question: MAB Company has acquired 23% equity interest from BAM Company Acquiring Date…

Answered: COMPUTE FOR YOUR CARRYING AMOUNT FOR…

Business

Accounting

COMPUTE FOR YOUR CARRYING AMOUNT FOR THE YEAR ENDED 2021

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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Question

COMPUTE FOR YOUR CARRYING AMOUNT FOR THE YEAR ENDED 2021 *
MAB Company acquires 23% equity interest from BAM
Company on January 1, 2020 for P340, 000. On
December 30, 2020 BAM Company reported a P 530,
000 profit and declared a dividends P 220, 000.
December 30, 2021
Reported losses P 250, 000
Declared a dividends of P 120, 000
December 30, 2022
Reported losses P120, 000
Declared dividends of P 70, 000

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