nswer in 10 minutes please Vince Company invested P2,000,000 in Alfred Company for 25% interest. Alfred paid out 40% of net income in dividends each year. The investment account showed the following details: Initial cost P5,000,000 Debit to the investment account 1,000,000 Credit to the investment account ( 400,000) Investment balance at year-end P5,600,000 What amount of investment income was reported by Vince? a. P 650,000 b. P1,000,000 c. P1,600,000

nswer in 10 minutes please Vince Company invested P2,000,000 in Alfred Company for 25% interest. Alfred paid out 40% of net income in dividends each year. The investment account showed the following details: Initial cost P5,000,000 Debit to the investment account 1,000,000 Credit to the investment account ( 400,000) Investment balance at year-end P5,600,000 What amount of investment income was reported by Vince? a. P 650,000 b. P1,000,000 c. P1,600,000

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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