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 P700,000 O P600,000 O P2,250,000 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 P700,000 O P600,000 O P2,250,000 O P1,950,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On January 1, 2019, Lallo Company
![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 P700,000
O P600,000
O P2,250,000
O P1,950,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8b696774-f46b-4026-9890-3f8605048656%2F9e566275-4b90-4b17-9529-d81dc76eb93b%2Fcxn4tan_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 P700,000
O P600,000
O P2,250,000
O P1,950,000
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