On December 1, 2020, Citrus purchased 200.000 shares representing 45 percent of the outstanding stock of Berry for cash of P2.500,000. As a result of this purchase. Citrus has the ability to exercise significant influence over the operating and financial policies of Berry 45 percent of the profit of Berry amounted to P20,000 for the month of December and P350,000 for the year ended December 31, 2020 On January 15, 2021, cash dividends of PO.30 per share were paid to shareholders of record on December 31. 2020. Citrus longterm investment in Berry should be shown in Citrus December 31, 2020, statement of financial position at:
On December 1, 2020, Citrus purchased 200.000 shares representing 45 percent of the outstanding stock of Berry for cash of P2.500,000. As a result of this purchase. Citrus has the ability to exercise significant influence over the operating and financial policies of Berry 45 percent of the profit of Berry amounted to P20,000 for the month of December and P350,000 for the year ended December 31, 2020 On January 15, 2021, cash dividends of PO.30 per share were paid to shareholders of record on December 31. 2020. Citrus longterm investment in Berry should be shown in Citrus December 31, 2020, statement of financial position at:
On December 1, 2020, Citrus purchased 200.000 shares representing 45 percent of the outstanding stock of Berry for cash of P2.500,000. As a result of this purchase. Citrus has the ability to exercise significant influence over the operating and financial policies of Berry 45 percent of the profit of Berry amounted to P20,000 for the month of December and P350,000 for the year ended December 31, 2020 On January 15, 2021, cash dividends of PO.30 per share were paid to shareholders of record on December 31. 2020. Citrus longterm investment in Berry should be shown in Citrus December 31, 2020, statement of financial position at:
On December 1, 2020, Citrus purchased 200.000 shares representing 45 percent of the outstanding stock of Berry for cash of P2.500,000. As a result of this purchase. Citrus has the ability to exercise significant influence over the operating and financial policies of Berry 45 percent of the profit of Berry amounted to P20,000 for the month of December and P350,000 for the year ended December 31, 2020 On January 15, 2021, cash dividends of PO.30 per share were paid to shareholders of record on December 31. 2020. Citrus longterm investment in Berry should be shown in Citrus December 31, 2020, statement of financial position at:
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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