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What is the carrying amount of the investment in associate at year-end? a. 2,550,000 b. 2,700,000 c. 2,800,000 d. 3.050,000.

What is the carrying amount of the investment in associate at year-end? a. 2,550,000 b. 2,700,000 c. 2,800,000 d. 3.050,000.

FINANCIAL ACCOUNTING
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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Problem 17-14 (IAA) the investee equaled P5,000,000. a The difference was attributed to equipment which had P1,000,000 and a fair market value of P1,600,000. The remaining useful life of the equipment and building was 4 years and 12 years, respectively. During the current year, the investee reported net income of P1,600,000 and paid dividends of P1,000,000. What is the carrying amount of the investment in associate at year-end? a. 2,550,000 b. 2,700,000 c. 2,800,000 d. 3,050,000.
Transcribed Image Text:Problem 17-14 (IAA) the investee equaled P5,000,000. a The difference was attributed to equipment which had P1,000,000 and a fair market value of P1,600,000. The remaining useful life of the equipment and building was 4 years and 12 years, respectively. During the current year, the investee reported net income of P1,600,000 and paid dividends of P1,000,000. What is the carrying amount of the investment in associate at year-end? a. 2,550,000 b. 2,700,000 c. 2,800,000 d. 3,050,000.
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