year.investmentg amount of P8,000,000.ahares of Beta Companyan Beta' Company had 80,000amount and fair valus of3 600,000 and P3,900,000mid per-share dividend of. Compute the carrying amount of the investment atyear-end.aount of theProblem 17-7 (ACP)On January 1, 2016, Bypass Company acquired as n long terminvestment for P7,000,000 a 40% interent in an investee whenthe fair value of the net'assets was P17,500,000. The investeereported the following net losses:broadcas20162017201820195,000,0007,000,0008,000,0004,000,000attributable to aOn January 1, 2018, Bypass Company made cash advances ofP2,000,000 to the investee. On December 31, 2019, it is notexpected that Bypass Company will provide further financialsupport for the investee.Company has a20-yearbroadcast license.019.20.he investment inRequired:Prepare journal entries from 2016 to 2019 in relation to theinvestment in associate.

1. On 01.01.2016, Bypass company acquired as long term investment = P7000000 Interest of purchase =…

Problem 17-7 (ACP) On January 1, 2016, Bypass Company acquired as a long term investment for P7,000,000 a 40% interest in an investee when the fair value of the net'assets was P17,500,000. The investee reported the following net losses: 2016 2017 2018 2019 5,000,000 7,000,000 8,000,000 4,000,000 On January 1, 2018, Bypass Company made cash advances of P2,000,000 to the investee. On December 31, 2019, it is not expected that Bypass Company will provide further financial support for the investee. Required: Prepare journal entries from 2016 to 2019 in relation to the investment in associate.

Problem 17-7 (ACP) On January 1, 2016, Bypass Company acquired as a long term investment for P7,000,000 a 40% interest in an investee when the fair value of the net'assets was P17,500,000. The investee reported the following net losses: 2016 2017 2018 2019 5,000,000 7,000,000 8,000,000 4,000,000 On January 1, 2018, Bypass Company made cash advances of P2,000,000 to the investee. On December 31, 2019, it is not expected that Bypass Company will provide further financial support for the investee. Required: Prepare journal entries from 2016 to 2019 in relation to the investment in associate.

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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Question

year.
investment
g amount of P8,000,000.
ahares of Beta Company
an Beta' Company had 80,000
amount and fair valus of
3 600,000 and P3,900,000
mid per-share dividend of
. Compute the carrying amount of the investment at
year-end.
aount of the
Problem 17-7 (ACP)
On January 1, 2016, Bypass Company acquired as n long term
investment for P7,000,000 a 40% interent in an investee when
the fair value of the net'assets was P17,500,000. The investee
reported the following net losses:
broadcas
2016
2017
2018
2019
5,000,000
7,000,000
8,000,000
4,000,000
attributable to a
On January 1, 2018, Bypass Company made cash advances of
P2,000,000 to the investee. On December 31, 2019, it is not
expected that Bypass Company will provide further financial
support for the investee.
Company has a
20-year
broadcast license.
019.
20.
he investment in
Required:
Prepare journal entries from 2016 to 2019 in relation to the
investment in associate.

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