Solution-What amount should the investment be reported

What amount should the investment be reported

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Question - On January 1, 2016, Laguna Company purchased 10% of Batangas Company's outstanding ordinary shares for P4,000,000. Laguna Company is the largest single shareholder in Batangas Company and Laguna Company's officers are a majority on Batangas Company's board of directors. Batangas Company reported net income of P5,000,000 for the current year and paid dividends of P1,500,000. On December 31, 2016, what amount should the investment (financial asset) be reported?

Reference no: EM133103462

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What amount should the investment be reported

Reference no: EM133103462

Reference no: EM133103462

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