On January 1, 2021, Belgium Company purchased 20% of Russia Company's outstanding ordinary shares for P4,0 Belgium Company is the largest single shareholder in Russia Company and Russia Company's officers are a majority on Belgium Company's board o directors. Russia, for the year, reported a net income of P8,000,000 and paid dividends of P3,000,000. How much is the Investment in associate on December 31, 2021?

On January 1, 2021, Belgium Company purchased 20% of Russia Company's outstanding ordinary shares for P4,0 Belgium Company is the largest single shareholder in Russia Company and Russia Company's officers are a majority on Belgium Company's board o directors. Russia, for the year, reported a net income of P8,000,000 and paid dividends of P3,000,000. How much is the Investment in associate on December 31, 2021?

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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