No. 28 On December 30, 2020, Aloha Company, an entity with nosubsidiary, purchased 10,000 ordinary shares of Sun ValleyCorporation at P150 per share. At the time of the purchase, SunValley hasan outstanding 50,000 shares witha totalshareholders' equity of P7,500,000.Valley reported profit of P3,000,000. On December 30, Alohareceived a cash dividend of P50 per share.For the year 2021, SunBased only on the foregoing informiation, what is the investmentcarrying value at December 31, 2021?P2,600,000P2,100,000P1,600,000P1,500,000а.b.с.d.

Using equity method, the investment value is decreased with receipt of dividend and increased with…

On December 30, 2020, Aloha Company, an entity with no subsidiary, purchased 10,000 ordinary shares of Sun Valley Corporation at P150 per share. At the time of the purchase, Sun Valley has an outstanding 50,000 shares with a total shareholders' equity of P7,500,000. For the year 2021, Sun Valley reported profit of P3,000,000. On December 30, Aloha received a cash dividend of P50 per share. Based only on the foregoing information, what is the investment carrying value at December 31, 2021? P2,600,000 P2,100,000 P1,600,000 P1,500,000 а. b. с. d.

On December 30, 2020, Aloha Company, an entity with no subsidiary, purchased 10,000 ordinary shares of Sun Valley Corporation at P150 per share. At the time of the purchase, Sun Valley has an outstanding 50,000 shares with a total shareholders' equity of P7,500,000. For the year 2021, Sun Valley reported profit of P3,000,000. On December 30, Aloha received a cash dividend of P50 per share. Based only on the foregoing information, what is the investment carrying value at December 31, 2021? P2,600,000 P2,100,000 P1,600,000 P1,500,000 а. b. с. d.

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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