BBB Company purchased 10% of TJ Company's 100,000 outstanding ordinary shares on January 1, 2019 for P500,000. On December 31, 2019, BBB Company purchased an additional 20,000 shares of TJ Company for P1,500,000. TJ Company had not issued any additional shares during 2019. The investee reported earnings of P3,000,000 for 2019. The fair value of the 10% interest is P900,000 on December 31, 2019. What is the carrying amount of the investment in association on December 31, 2019?

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A: Unrealized gain means the upsurge in the worth of an asset or security which is yet to sold for…

Q: epare the journal entries for Grouper for 2019 and 2020, assuming that Grouper cannot exercise…

A:

Q: On January 1, 2021, Manette Company acquired 100,000 ordinary shares of Nette Company for…

A: Solution: Manette should recognized in profit or loss for the year 2021 = Income of Netter company *…

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Q: her comprehensive income, as follows: June 20, 2019 - 1,000 shares for P101,600  November 5, 2019 -…

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Q: During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary shares at…

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Q: On 1 January 2019, Company P purchased 80% of the equity of Company S. The following transactions…

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Q: On January 1, 2021, Family Company purchased 10% of San Company's 100,000 outstanding ordinary…

A: Reported Income : Consequently, the investor's part of the joint venture's revenues and losses is…

Q: During the year 2019, Active Company acquired 10,000 ordinary shares of Passive Company for P250,000…

A: Unrealized gain/loss on equity investment for the year 2019 = Market value of shares as on Dec 31…

Q: During the year 2021, David Company purchased 1,000 shares of Goliath Company ordinary shares at…

A: Value of investment on 31 dec 2022  = (1,000-400)x200 = P120,000 Value of investment on 31 dec 2021…

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A: No. of shares held as on December 31, 2022:   No. of shares Shares purchased in the year 2021…

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A: Equity investment: It refers to the money invested in purchasing the equity shares of a company in…

Q: During the year 2019, Nice Company acquired 10,000 ordinary shares of Easy Company for P250,000 plus…

A: Unrealized gain: It implies to an increase in the fixed asset's value that is held by an investor…

Q: Marcus Company made the following transactions in the ordinary shares of Cato Company designated as…

A: Assets at fair value through profit or loss (FVTPL) can be defined as the financial assets that are…

Q: What total amount of income should be recognized for 2019?

A: At the end of the year, BBB company's holding in TJ company is 30%, so Equity method is used for…

Q: During the year 2021, Pal Company purchased 1,000 shares of Pak Company ordinary shares at P150 per…

A: Answer:-  Ordinary share meaning:- Ordinary shares, sometimes also called as common shares, are…

Q: During the year 2021, Pal Company purchased 1,000 shares of Pak Company ordinary shares at P150 per…

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Q: On 1 January 2019, Company P purchased 80% of the equity of Company S. The following transactions…

A: The question is based on the concept of Business Accounting.

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Q: Carla Vista Company purchased 200 of the 1000 outstanding shares of Metlock Company's common stock…

A: Equity Investment Equity Investment is the money that is invested in a company through buying of…

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Q: December 31, 2021---------P222,000 How much unrealized loss on equity investment is recognized in…

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Q: n April 1, 2019, Star Company purchased 30,000 ordinary shares of Moon Company at P180 per share, a…

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Q: Agee Corporation acquired a 35% interest in Trent Company on January 1, 2019, for $750,000. At that…

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Q: On January 1, 2019, Mickey Mouse Co. acquired 20,000 ordinary shares out of the 100,000 outstanding…

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Q: On January 1, 2020. Mickey Mouse Corporation owns 15,000 ordinary shares representing 15% of the…

A: Answer: Jan 1 2020: 15000 shares with cost of P1,400,000 Dec 31,2020: 15000 shares with fair market…

Q: On September 1, 2019, Napakabasic Co. acquired 5,000 shares of the 20,000, P200 par, outstanding…

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Q: . During the year 2019, Jack company acquired 11,000 ordinary shares of Jill Company for P231,000…

A: Unrealized loss: It implies to a fall or decrease in the fixed asset's value or investment that is…

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Q: On April 1, 2019, Tagaytay Company purchased 25,000 ordinary shares of Sulo Co. at P180 per share, a…

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Q: On January 1, 2019, Mickey Mouse Co. acquired 20,000 ordinary shares out of the 100,000 outstanding…

A: This question deals with the concept of calculating carrying value of investment and share in profit…

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A: Solution Goodwill is an intangible asset. It is generated by having good name , reputation in the…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

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Q: On May 1, 2021, P Corp. purchased 75% of S Co.’s P10 par ordinary shares for P990,000. On this date,…

A: Non-controlling interest: Non controlling interest is the share of ownership of subsidiary company.…

Q: On April 1, 2019, BBB Company purchased 40% of the outstanding ordinary shares of Clarke Company for…

A: Note: It is assume that company preparing their financial account according calendar year.

Q: What amount will be recorded as goodwill on January 1, 2020?

A: Goodwill is the amount which is occurred and takes place when the person pays more than the amount…

Q: On January 1, 2019, Mickey Mouse Co. acquired 20,000 ordinary shares out of the 100,000 outstanding…

A: Holding % = No. of shares acquired / total no. of shares = 20000 / 100000 = 20%

Q: On January 1, 2019, Mickey Mouse Co. acquired 20,000 ordinary shares out of the 100,000 outstanding…

A: Here in this question we are required to calculate the goodwill on acquisition. When one company…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

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Q: On January 1, 2021, ABC purchased 90% of the outstanding shares of PQR by paying P740,000. On that…

A: Working note -1 Calculation of profit on sale of fixed assets from ABC to PQR-…

Q: On January 1, 2021, Mintal Company, an SME, purchased 10,000 shares of Los Amigos Company P100 par…

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Q: how much should MANGO report as gain or loss on sale of investment?

A: The management sometimes invests in the stock market to acquire other corporations' shares for the…

Q: On April 1, 2019, Tagaytay Company purchased 25,000 ordinary shares of Sulo Co. at P180 per share, a…

A: Share represents the ownership claim on the company. It is a share part of the share capital. The…

Q: . During the year 2019, Active Company acquired 10,000 ordinary shares of Passive Company P250,000…

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A: SOLUTION NET INCOME REFERS TO THE AMOUNT AN INDIVIDUAL OR BUSINESS MAKES AFTER DEDUCTING COSTS ,…

Q: How much unrealized holding gain should Lover report in profit or loss for the year 2022?

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.