espectively. Both assets have 10-year remaining useful life. An annual review revealed that goodwill has not been im
Parent Corporation acquired 80% of Subsidiary Co. for P 5,000,000 on January 2, 2021. On this date, Subsidiary Co. reported Ordinary share capital of P 3,000,000 and
Subsidiary Co. earned income and paid dividends as follows:
2021 2022 2023
Net Income 1,000,000 1,200,000 1,3000,000
Dividends 400,000 500,000 600,000
The balance of the investment account at December 31, 2023 is:
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