On January 1, 2017, Tenants Company acquired as a long term investment for P5,600,000 a 40% interest in an investee when the fair value of the net assets was P14,000,000. The investee reported the following results of operation: 2017 (4,000,000) 2018 (5,600,000) 2019 (6,400,000) 2020 3,200,000 What amount should be reported by tenants as investment loss for the year 2019?
On January 1, 2017, Tenants Company acquired as a long term investment for P5,600,000 a 40% interest in an investee when the fair value of the net assets was P14,000,000. The investee reported the following results of operation: 2017 (4,000,000) 2018 (5,600,000) 2019 (6,400,000) 2020 3,200,000 What amount should be reported by tenants as investment loss for the year 2019?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2017, Tenants Company acquired as a long term investment for P5,600,000 a 40% interest in an investee when the fair value of the net assets was P14,000,000. The investee reported the following results of operation:
2017 (4,000,000)
2018 (5,600,000)
2019 (6,400,000)
2020 3,200,000
What amount should be reported by tenants as investment loss for the year 2019?
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