On July 1, 2020 Blush Company purchased 20% of the when the fair value of net assets was P20,000,000. outstanding ordinary shares of an investee for P4,000,000 Blush Company has the ability to exercise significant influence over the operating and financial policies of the investee. The following data concerning the investee are available: 12 months ended December 31, 2020 December 31, 2020 6 months ended Net income Dividend declared and paid 3,000,000 1,900,000 1,600,000 1,000,000 In the income statement for the year ended December 31, 0020, what amount of income should be reported from the investment?

On July 1, 2020 Blush Company purchased 20% of the when the fair value of net assets was P20,000,000. outstanding ordinary shares of an investee for P4,000,000 Blush Company has the ability to exercise significant influence over the operating and financial policies of the investee. The following data concerning the investee are available: 12 months ended December 31, 2020 December 31, 2020 6 months ended Net income Dividend declared and paid 3,000,000 1,900,000 1,600,000 1,000,000 In the income statement for the year ended December 31, 0020, what amount of income should be reported from the investment?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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