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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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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. Valley reported profit of P3,000,000. On December 30, Aloha received a cash dividend of P50 per share. For the year 2021, Sun Based only on the foregoing informiation, 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.
Transcribed Image Text: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. Valley reported profit of P3,000,000. On December 30, Aloha received a cash dividend of P50 per share. For the year 2021, Sun Based only on the foregoing informiation, 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.
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