Reference no: EM132975109
Question - On January 1, 2020, Awit Company acquired 20% of the ordinary shares of an associate for P9,000,000. On this date, all the identifiable assets and liabilities of the associate were recorded at fair value. An analysis of the acquisition showed that goodwill of P450,000 was acquired. The associate reported the following net income and dividend:
|
|
2020
|
2021
|
|
Net income
|
4,500,000
|
6,000,000
|
|
Dividend paid
|
500,000
|
2,250,000
|
In December 2020, the associate sold inventory to Awit Company for P1,350,000. The cost of the inventory is P900,000. This inventory remained unsold by Awit on December 31, 2020. However, it was sold by Awit Company in 2021. In December 2021, the associate sold inventory to Awit Company for P1,125,000. The cost of the inventory was P750,000. This inventory remained unsold by Awit Company on December 31, 2021.
1. What is the investment income for 2020?
a. P972,000 c. P810,000
b. P990,000 d. P900,000
2. What is the investment income for 2021?
a. P1,125,000 c. P1,200,000
b. P1,215,000 d. P1,290,000
3. What is the carrying amount of the investment in associate on December 31, 2021?
a. P10,275,000 c. P9,000,000
b. P10,185,000 d. P10,350,000
|
Provide an overview of the concept experience economy
: Provide an overview of the concept "experience economy" (including transformative experience), and describe how this approach can improve tourist experience
|
|
How will impact the performance efforts of the organization
: Find and How can you position this to demonstrate how this will impact the performance efforts of the organization? What results do you anticipate?
|
|
Find what is the correct amount of VAT payable
: The following data were provided for the taxable year (net of applicable taxes): Sales P3,960,180. Find what is the correct amount of VAT payable
|
|
Develop a comprehensive and high standard destination
: Develop a comprehensive and high standard destination management strategy, your group first needs to complete extensive background research and analysis
|
|
What is the carrying amount of the investment
: In December 2020, the associate sold inventory to Awit Company for P1,350,000. The cost of the inventory is P900,000. What is the carrying amount of investment
|
|
3018THS Destination Management Assignment
: 3018THS Destination Management Assignment Help and Solution, Griffith University - Assessment Writing Service
|
|
What are the benefits of empowering employees
: What are the benefits of empowering employees? What is empowerment? How would you define empowerment? Are there disadvantages to empowering employees?
|
|
What is the project PI
: A project has an initial cost of $45,000, expected net cash inflows of $9,000 per year for 11 years, and a cost of capital of 11%. What is the project's PI
|
|
What is the additional opportunity cost to the company
: If the company made sales on credit totalling $650,000 per month under each scenario, what is the additional opportunity cost to the company
|