You have been asked by the VP of Finance to identify the appropriate accounting treatment for the following series of investments made by Metaphor Investments Inc.: (Round per share calculations to 1 decimal place in percentage.) ⚫ Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc. • Purchased 20,000 of 50,000 shares outstanding for Metro Inc. ⚫ Purchased 30,000 of 60,000 shares outstanding for Le Petite Boulangerie Inc. ⚫ Purchased 40,000 of 75,000 shares outstanding for Wood Passion Ltd. Company Percentage of purchased shares Treatment The Natural Pharmacy Inc. % Metro Inc. Le Petite Boulangerie Inc % % Wood Passion Ltd %
You have been asked by the VP of Finance to identify the appropriate accounting treatment for the following series of investments made by Metaphor Investments Inc.: (Round per share calculations to 1 decimal place in percentage.) ⚫ Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc. • Purchased 20,000 of 50,000 shares outstanding for Metro Inc. ⚫ Purchased 30,000 of 60,000 shares outstanding for Le Petite Boulangerie Inc. ⚫ Purchased 40,000 of 75,000 shares outstanding for Wood Passion Ltd. Company Percentage of purchased shares Treatment The Natural Pharmacy Inc. % Metro Inc. Le Petite Boulangerie Inc % % Wood Passion Ltd %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am.112.
Transcribed Image Text:You have been asked by the VP of Finance to identify the appropriate accounting treatment for the following series of investments
made by Metaphor Investments Inc.: (Round per share calculations to 1 decimal place in percentage.)
⚫ Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc.
• Purchased 20,000 of 50,000 shares outstanding for Metro Inc.
⚫ Purchased 30,000 of 60,000 shares outstanding for Le Petite Boulangerie Inc.
⚫ Purchased 40,000 of 75,000 shares outstanding for Wood Passion Ltd.
Company
Percentage of purchased shares
Treatment
The Natural Pharmacy Inc.
%
Metro Inc.
Le Petite Boulangerie Inc
%
%
Wood Passion Ltd
%
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