On July 1, 2023, Jerry Corporation acquired 25% of the shares of Von, Inc. for P1,000,000. At that date, the equity of Von was P4,000,000, with all the identifiable assets and liabilities being measured at amounts equal to fair value. The table below shows the profits and losses made by Von during 2003 to 2007: Year Profit (Loss) 2023 P200,000 2024 (2,000,000) 2025 (2,500,000) 2026 160,000 2027 300,000 1. The carrying amount of the investment in Von, Inc. as of December 31,2024 is 2. The amount to be recognized in 2025 profit or loss related to the investment in Von, Inc. is 3. The amount to be recognized in 2026 profit or loss related to the investment in Von, Inc. is
On July 1, 2023, Jerry Corporation acquired 25% of the shares of Von, Inc. for P1,000,000. At that date, the equity of Von was P4,000,000, with all the identifiable assets and liabilities being measured at amounts equal to fair value. The table below shows the profits and losses made by Von during 2003 to 2007:
Year Profit (Loss)
2023 P200,000
2024 (2,000,000)
2025 (2,500,000)
2026 160,000
2027 300,000
1. The carrying amount of the investment in Von, Inc. as of December 31,2024 is
2. The amount to be recognized in 2025 profit or loss related to the investment in Von, Inc. is
3. The amount to be recognized in 2026 profit or loss related to the investment in Von, Inc. is
4. The amount to be recognized in 2027 profit or loss related to the investment in Von, Inc. is
5. The amount of the investment in Von, Inc. as of December 31,2027 is
6. Prepare all
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