On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for P20,000,000. The following data concerning Vintar Company are available: 2019 2020 Net income P6,000,000 P7,000,000 Cash dividend paid None 15,000,000 In its income statement for the year ended December 31. 2020, how much should Lallo report as income from this investment? O P2,250.000 O P600.000 OP700.000 O P1.950.000
On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for P20,000,000. The following data concerning Vintar Company are available: 2019 2020 Net income P6,000,000 P7,000,000 Cash dividend paid None 15,000,000 In its income statement for the year ended December 31. 2020, how much should Lallo report as income from this investment? O P2,250.000 O P600.000 OP700.000 O P1.950.000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 18P
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![On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for
P20,000,000. The following data concerning Vintar Company are available:
2019
2020
Net income
P6,000,000 P7,000,000
Cash dividend paid
None
15,000,000
In its income statement for the year ended December 31. 2020, how much should Lallo report as
income from this investment?
O P2,250.000
O P600.000
O P700.000
O P1.950.000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2dce1b25-15a3-449b-b0c2-d704ce228ca2%2F7f582a7f-f78d-46d4-b053-dde430b3a9fe%2Fgltoyro_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for
P20,000,000. The following data concerning Vintar Company are available:
2019
2020
Net income
P6,000,000 P7,000,000
Cash dividend paid
None
15,000,000
In its income statement for the year ended December 31. 2020, how much should Lallo report as
income from this investment?
O P2,250.000
O P600.000
O P700.000
O P1.950.000
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